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Bank of Japan Governor Haruhiko Kuroda’s stimulus policies are backfiring in the housing market, where mortgage rates are rising even as the central bank floods the financial system with cash.
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The U.S. Treasury Department said it will press Japan to refrain from competitive devaluation while stopping short of accusing it of manipulating the yen in a report on exchange rates.
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Former Bank of Japan Deputy Governor Kazumasa Iwata, an advocate of expanded stimulus, joined economists predicting the bank’s new chief Haruhiko Kuroda will fail to meet his deadline for a price target.
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Prime Minister Shinzo Abe’s push for more easing by the Bank of Japan is fueling speculation that it may have to accept negative interest rates on the bonds it buys from financial institutions.
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Japan’s liquidity supply dropped in March for the first time in more than three years, fueling politicians’ complaints that the central bank should be doing more to end deflation.
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Takao Suzuki was chairing a board meeting on the fourth floor of Daito Bank Ltd. headquarters when the earthquake struck. As windows shattered and the floor shook, he dashed for the door, opening it to secure an escape route.
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Nomura Holdings Inc.’s appointment of domestic brokerage head Koji Nagai as the new chief signals a retrenchment into its home market as Japan’s biggest investment bank reels from an insider-trading scandal and losses overseas.
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Toyoki Yoshida recalls the winter day in 2002 when he tried to hang himself with a leather belt after yakuza thugs hounded him for weeks to pay back 500,000 yen ($6,300) in loans.
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The Bank of Japan will probably take new easing steps next week, a survey of economists showed, as pressure builds on the central bank to do more to end deflation and revive the economy.
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Cerberus Capital Management LP, the U.S. investment firm that controlled Aozora Bank Ltd. since 2003, is set to offload its holding after the Japanese lender’s stock tripled over four years.
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