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BOJ to keep pursuing steps for price stability: senior official

June 13, 2017 TOKYO (Reuters) – The Bank of Japan will continue to pursue necessary monetary policy steps to stabilize prices, while keeping an eye on how they affect its financial health, a senior central bank official said on Tuesday. A recent slowdown in the BOJ’s bond buying is due largely to the fact U.S. Treasury yields have stabilized and are exerting less upward pressure on Japan’s long-term interest rates, Masayoshi Amamiya, the central bank’s executive director overseeing monetary policy, told parliament. “It’s hard to say now how a future…

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Japan’s Universal accuses founder Okada of improper loan

June 9, 2017 By Nathan Layne (Reuters) – Universal Entertainment Corp , a Japanese maker of slot machines, said on Thursday it was investigating what it suspects was an improper transfer of funds by Kazuo Okada, its founder and chairman, to a company he controls. In a statement on Universal’s website issued under the name of the company’s president, Universal said it had found the possibility of “fraudulent acts” related to a 2015 loan of HK$135 million ($17.31 million) to an unnamed third party. The statement says that all but…

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Japan first quarter GDP revised down in fragile export-led expansion

June 8, 2017 By Tetsushi Kajimoto TOKYO (Reuters) – Japan’s economic growth in the January-March period was severely revised down from the original estimate because of a downward adjustment in business inventories, the Cabinet Office said, underscoring the fragility of its export-led expansion. Japan’s economy, the world’s third largest, expanded at an annualized rate of 1.0 percent in the January-March period, less than half the preliminary estimate of 2.2 percent growth, Cabinet Office data showed on Thursday. The revised gross domestic product (GDP) data compared with the median forecast of…

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World Bank says trade, manufacturing to boost 2017 global growth

June 4, 2017 By David Lawder WASHINGTON (Reuters) – The World Bank on Sunday maintained its forecast that global growth will improve to 2.7 percent this year, citing a pickup in manufacturing and trade, improved market confidence and a recovery in commodity prices. The update of the multilateral development lender’s Global Economic Prospects report marked the first time in several years that its June forecasts were not reduced from those published in January due to rising growth risks. The World Bank’s 2017 global growth forecast of 2.7 percent compares to…

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BOJ’s balance sheet tops 500 trillion yen, on cusp of overtaking Fed

June 2, 2017 By Hideyuki Sano TOKYO (Reuters) – The Bank of Japan hit a new milestone as its balance sheet topped 500 trillion yen ($4.48 trillion), roughly the same size as that of the Federal Reserve, having more than tripled since it started aggressive stimulus in 2013. The massive size of the BOJ’s money printing, however, has barely moved it nearer to its ultimate policy goal of lifting inflation to 2 percent, highlighting the difficulty the central bank is facing as the pace of its bond buying appears unsustainable….

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BOJ may need to coordinate new fiscal plan to lift inflation: Ex-Fed Bernanke

May 24, 2017 By Stanley White TOKYO (Reuters) – Former Federal Reserve Chairman Ben Bernanke said on Wednesday the Bank of Japan may need to coordinate a new fiscal spending plan with the government, allowing for inflation to accelerate above its 2 percent target without worsening the debt burden. Making a temporary commitment to allow inflation to overshoot would help keep the ratio of debt to gross domestic product stable, and is different from directly underwriting fiscal spending, Bernanke said. Bernanke also said the BOJ’s current policy framework may be…

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Japan manufacturers’ mood slips despite economic recovery: Reuters Tankan

May 24, 2017 By Tetsushi Kajimoto and Izumi Nakagawa TOKYO (Reuters) – Confidence among Japanese manufacturers receded in May for the first time in nine months after hitting a decade-high level April, a Reuters survey found, showing guarded optimism in a nascent export-led economic recovery. The Reuters’ monthly poll – which tracks the Bank of Japan’s key quarterly tankan – showed confidence at service-sector firms hit a four-month high, a tentative sign of a pickup in domestic demand. The Reuters Tankan follows data last week that showed the economy expanded…

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Rush of Australian securitized home loans tempts yield-starved Japanese

May 23, 2017 SYDNEY (Reuters) – Australia has become the world’s most active market for securitized home loans, with sales at their highest in a decade as lenders seek to take advantage of surging demand from yield-starved Japanese investors. Issues of residential mortgage-backed securities (RMBS) total A$67 billion, with A$12 billion ($9 billion) sold so far this year. The strong overseas demand comes amid warnings over the country frothy property market from regulators, the central bank and the International Monetary Fund. Home prices in Australia’s two biggest cities of Sydney…

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Japan finance minister says must deliver strong message on free trade at G7

May 23, 2017 TOKYO (Reuters) – Japan must deliver a strong message on free trade at this month’s summit meeting of leaders from the Group of Seven nations, Finance Minister Taro Aso said on Tuesday. Aso was speaking to reporters after a cabinet meeting. (Reporting by Takashi Umekawa; Writing by Tetsushi Kajimoto) The post Japan finance minister says must deliver strong message on free trade at G7 appeared first on One America News Network. Powered by WPeMatico

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Few celebrations as 10th anniversary of global crisis nears

May 19, 2017 By William Schomberg LONDON (Reuters) – In May 2007, Ben Bernanke, then chair of the Federal Reserve, said the problems in the U.S. subprime mortgage market probably would not hurt the economy or the banking system. With the admittedly huge benefit of hindsight, that was a misjudgment of epic proportions. It has taken a full 10 years since the onset of the global financial crisis for the world economy to show clear signs of recovery, and even now progress remains halting. In the United States, the unemployment…

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