Japan reported Thursday a record trade deficit for fiscal year 2011 as exports tumbled on account of falling global demand and a nuclear energy crisis that resulted in the rise of oil and gas imports.
Bank of Japan Governor Masaaki Shirakawa stressed on Wednesday the central bank is fully committed to continuing powerful monetary easing, but warned that central banks can only buy time for governments to pursue structural reforms.
Bank of Japan Governor Masaaki Shirakawa said on Wednesday the central bank is fully committed to continuing powerful monetary easing through various measures, such as keeping interest rates practically at zero and purchasing financial assets until 1 percent inflation is in sight.
Bank of Japan Governor Masaaki Shirakawa said on Wednesday the central bank is fully committed to continuing powerful monetary easing through various measures, such as keeping interest rates practically at zero and purchasing financial assets until 1 percent inflation is in sight.
Bank of Japan Governor Masaaki Shirakawa said on Monday he was continuing to monitor the risk that Europe's debt woes could affect Japan's banking system, just as renewed fears about the euro zone spooked financial markets.
Japan's core machinery orders rose in February against all expectations, indicating that the country’s economy is in the path of recovery in spite of deflationary pressures, a strengthening currency and decreasing foreign demand.
The Bank of Japan will consider easing monetary policy at its next rate review on April 27 by boosting government bond purchases under its asset-buying program, sources familiar with the central bank's thinking said, as it battles to nudge consumer inflation toward its 1 percent target.
Japan's core machinery orders rose unexpectedly in February, reinforcing expectations that rebuilding in the earthquake-battered northeast will bolster corporate spending and economic recovery although risks loom from a resurgent yen and wobbly overseas economies.
Most Asian stocks ended lower Tuesday, following a slump in the Wall Street overnight as disappointing March employment report raised concerns about the strength of recovery in the world’s biggest economy.
BOJ policy-makers voted to keep the central bank's key rate within a range of zero to 0.1 percent and to maintain the size of its asset-buying program at 65 trillion yen.
The Bank of Japan kept monetary policy steady on Tuesday, holding fire until a more thorough assessment of the economy at another rate review in two weeks that may show further action is needed to nudge inflation up towards its 1 percent target.
Japan posted a surprise trade surplus of 32.9 billion yen, or $397.35 million, in February -- its first in five months, amid strong exports to the U.S., the Ministry of Finance said.
The Bank of Japan’s decision to extend its support for lending to growth sectors rather than add to its Asset Purchase Program (APP) on Tuesday appears to have disappointed some but was the outcome that had looked most likely according to Capital Economics.
Japan's top government spokesman said on Wednesday the government will continue to work with the Bank of Japan to beat deflation and revive the economy.
The Bank of Japan kept monetary policy on hold on Tuesday, overruling a lone proposal for more stimulus and disappointing some in markets who thought the central bank could follow up last month's easing with another move to amplify its impact.
Asian equities hit a one-week high on Tuesday, holding firm in the wake of recent signs of improvement in the U.S. economy, while the yen rose after the Bank of Japan kept monetary policy steady.
The Bank of Japan held off on easing monetary policy on Tuesday after last month's surprise loosening, but board member Ryuzo Miyao unsuccessfully proposed a further easing by increasing the bank's asset-buying and loan scheme by 5 trillion yen ($61 billion).
Japan's Nikkei average breached 10,000 for the third straight session before trimming gains to 0.9 percent Tuesday, lifted by defensive buying as investors looked for signs of further easing from the Bank of Japan.
The Bank of Japan is expected to refrain from easing monetary policy further on Tuesday, while stressing its readiness to act again in coming months if needed and extending a cheap loan line supporting growth industries.
Japan's core machinery orders rose at a faster pace than expected in January in a sign that rebuilding the country's tsunami-battered northeast coast could propel capital expenditure and support the fragile economy.
With Japan observing the one-year anniversary of its extraordinarily deadly 3/11 triple disaster on Sunday, the English-language online sites of three of the country's largest-circulation newspapers are all now covering various aspects of the earthquake, tsunami, and nuclear meltdowns associated with last March 11.
Japan's government on Friday kept up pressure on the central bank to further support an economic recovery, but the Bank of Japan appears set to hold monetary policy steady at its regular policy meeting next week.
