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BOJ should dial back stimulus before inflation hits 2 percent: ex-BOJ deputy governor Iwata

August 8, 2017 By Leika Kihara TOKYO (Reuters) – The Bank of Japan should dial back its massive stimulus before inflation hits its 2 percent target, a leading candidate to become the next governor said, raising questions about the efficacy of the BOJ’s radical approach to snuff out deflation in the world’s third-largest economy. Former BOJ Deputy Governor Kazumasa Iwata criticized the central bank’s price forecasts as too optimistic and warned that even hitting 1 percent inflation could be challenging given a recent batch of weak price data. The comments…

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BOJ pushes back inflation target for sixth time, keeps policy steady

July 20, 2017 By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) – The Bank of Japan kept monetary policy steady on Thursday but once again pushed back the timing for achieving its ambitious inflation target, reinforcing views that it will lag well behind other major central banks in scaling back its massive stimulus program. With robust exports and private consumption pointing to a steady though modest recovery, the Japanese central bank slightly raised its growth forecasts and offered a more upbeat view of the world’s third-largest economy than last month….

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Asia stocks hit near-decade high, yen slips as BOJ cuts inflation forecast

July 20, 2017 By Nichola Saminather SINGAPORE (Reuters) – Asian shares scaled a near-decade peak on Thursday, bolstered by a surge in global stocks to new records on strong U.S. corporate earnings, while the yen eased slightly after the Bank of Japan reinforced expectations it will lag other central banks in dialing back stimulus. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.15 percent, hovering near its highest level since December 2007. Australian stocks rose 0.6 percent and South Korea’s KOSPI was up 0.1 percent. Chinese blue chips advanced…

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Asia BOJ Business policy U.S. 

Asia stocks hit 9-1/2-year high, markets await BOJ, ECB meetings

July 20, 2017 By Nichola Saminather SINGAPORE (Reuters) – Asian shares scaled near-decade peak on Thursday, bolstered by a surge in global stocks to a record high on strong U.S. corporate earnings, while investors awaited the Japanese and European central bank meetings for clues on their policy outlooks. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.15 percent, hovering near its highest level since December 2007. Japan’s Nikkei gained 0.1 percent. Australian stocks rose 0.3 percent and South Korea’s KOSPI advanced 0.15 percent. The MSCI World index rose for…

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BOJ likely to push back timeframe for inflation target again: Reuters poll

July 18, 2017 By Kaori Kaneko TOKYO (Reuters) – Faced with still-sluggish inflation even as the economy picks up steam, the Bank of Japan will delay again its projected timing for achieving the 2 percent inflation target, according to a majority of economists polled by Reuters. Inflation will accelerate gradually toward 1 percent later this year, say analysts, but it will still fall short of that both in this fiscal year and next, the poll predicted. In May, core consumer prices rose just 0.4 percent on a year ago. “Wages…

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Global policy shift exposes BOJ yield curve control flaw

July 12, 2017 By Leika Kihara TOKYO (Reuters) – Bank of Japan policymakers see little to cheer in successfully defending their yield target as European and U.S. central banks start to pull the plug on ultra-cheap money, casting doubt on their view that global bond yield gains will be short-lived. Rising global yields forced the Japanese central bank to rev up bond buying last Friday to cap 10-year Japanese government bond (JGB) yields around its zero percent target, putting it at odds with its counterparts eyeing an exit from ultra-loose…

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Percentage of Japan households expecting inflation to rise hits more than one-year high: BOJ survey

July 7, 2017 TOKYO (Reuters) – The percentage of Japanese households that expect consumer prices to rise a year from now reached the highest level in more than a year, a central bank survey showed on Friday, suggesting progress in generating sustained inflation. The percentage of households that expect prices to increase five years from now also rose to the highest in a year, the survey for June showed, supporting the Bank of Japan’s optimism that its quantitative easing is gaining traction. The survey follows government data showing a pickup…

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BOJ tankan shows slight pickup in corporate inflation expectations

July 4, 2017 By Stanley White TOKYO (Reuters) – Japanese companies’ inflation expectations picked up slightly in June from three months ago as labor shortages and high material costs pointed to an acceleration in consumer prices over the next few quarters. Companies surveyed by the Bank of Japan expect consumer prices to rise 0.8 percent a year from now, higher than their projection for a 0.7 percent increase three months ago. Companies also expect consumer prices to rise an annual 1.1 percent three years from now, up from a 1.0…

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Bank of Japan must communicate clearly, avoid stimulus-exit talk: June meeting summary

June 26, 2017 By Leika Kihara TOKYO (Reuters) – Bank of Japan policymakers focused on how best to communicate their intentions as improvements in the economy heighten market attention to the timing of an exit from ultra-easy monetary policy, a summary of opinions from the June rate review showed. While board members stressed the need to discourage markets from speculating that a withdrawal of stimulus was near, they also showed little appetite for additional easing despite subdued inflation. With inflation distant from the BOJ’s 2 percent target and likely to…

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BOJ holds policy steady, upgrades view on consumption, global growth

June 16, 2017 By Leika Kihara TOKYO (Reuters) – The Bank of Japan kept monetary policy steady on Friday and upgraded its assessment of private consumption and overseas growth, signaling its confidence that an export-driven economic recovery was broadening and gaining momentum. But Governor Haruhiko Kuroda is likely to reassure markets the BOJ will still lag well behind the Federal Reserve in dialing back its massive stimulus program, with inflation far from reaching the BOJ’s 2 percent target, say sources familiar with its thinking. “Private consumption has shown increased resilience…

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