Takahide Kiuchi News
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The Bank of Japan should specify a two-year limit for its unprecedented monetary easing to help quell bond-market volatility, according to one of the central bank’s board members.
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Japan is poised to exit more than a decade of deflation as a strengthening yuan bolsters China’s buying power, fueling Japanese production and buoying prices, according to Nomura Holdings Inc.
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The Bank of Japan maintained its unprecedented plan to boost money supply at a policy meeting today, and predicted inflation will almost match its target in two years even after a report highlighted deflation’s grip.
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Bank of Japan board members forecasting an end to more than a decade of deflation may need to add to an already unprecedented monetary stimulus plan should consumer prices fail to align with their projections by October.
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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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Japanese Prime Minister Shinzo Abe is likely to nominate Asian Development Bank President Haruhiko Kuroda as Bank of Japan governor, according to two officials with knowledge of the discussions.
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Bank of Japan Governor Haruhiko Kuroda may be constrained in the amount of stimulus he can deliver at his first policy meeting today as he seeks support from a board mostly appointed by the previous government.
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The following is a reformatted version of a statement released today by the Bank of Japan. (Appendix 1 and Appendix 2 were omitted for formatting purposes.)
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Analysts from the 24 primary dealers in the Japanese government bond market comment on Bank of Japan Governor Masaaki Shirakawa ’s performance, in addition to Japan’s struggle with deflation and the power and limitations of monetary policy.
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Two new members of the Bank of Japan’s nine-person policy board voted for a more expansionary wording of the bank’s price outlook released at its Oct. 30 meeting, minutes of the session show.
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