Hiroaki Muto News
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Prime Minister Shinzo Abe’s stimulus probably helped the Japanese economy grow the most in a year, adding to pressure on 2013’s worst-performing bond market.
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Bank of Japan Governor Haruhiko Kuroda began his onslaught to end two decades of economic stagnation and 15 years of deflation as the central bank pledged unprecedented easing, driving the yen's biggest slide since 2011.
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Japan’s economic slowdown is probably temporary and the nation is showing signs of picking up thanks to growing exports and a weaker yen, Bank of Japan board member Hidetoshi Kamezaki said.
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Bank of Japan Governor Masaaki Shirakawa may find resistance among board members to expanding an emergency loan program after economic reports indicated the recovery is strengthening. More members may oppose boosting the fund after two voted against doubling it to 20 trillion yen ($214 billion) last month, a person familiar with the matter said. The bank has yet to fully judge the impact of that step, said a second person informed of the matter. They spoke on condition of anonymity because the talks before the April 30 BOJ meeting were private. The potential split reflects signs of a rebound -- including unemployment at an 11-month low and the biggest gain in retail sales in 13 years -- with a lingering threat of deflation. Some board members may argue that enlarging the bank-loan program would help assure consumer prices rise, said economist Hiroaki Muto. “We can’t completely rule out the chance that the BOJ will take more action this week, as the end o
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Japan’s industrial production fell unexpectedly in June and the unemployment rate climbed to a seven-month high, signaling the nation’s export-led recovery is losing momentum.
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Global finance chiefs signaled Japan has scope to keep stimulating its stagnant economy as long as policy makers cease publicly advocating a sliding yen.
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Japan’s economy grew less than forecast in the first quarter as an export-led recovery failed to stoke consumer spending, putting pressure on the central bank to do more to end deflation as it begins a two-day meeting.
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The Bank of Japan expanded its asset-purchase program for the second time in two months, a move that failed to cheer investors as stocks slumped amid mounting evidence that the economy contracted last quarter.
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Japan’s biggest manufacturers probably grew more pessimistic this quarter as China’s slowdown and Europe’s crisis sapped exports, putting pressure on the central bank to add to this month’s surprise monetary stimulus.
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The Bank of Japan’s first back-to- back monthly stimulus expansion since 2003, and the unveiling of an unlimited program to support bank loans, proved insufficient to reverse the yen’s strength and stoke the stock market.
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