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Nov 26, 2014

BOJ’s Shirai defends latest easing, rules out incremental action

HIROSHIMA, Japan (Reuters) – A Bank of Japan board member who voted for last month’s huge monetary expansion defended the move on Wednesday, saying that failing to act would have cast doubt on the bank’s determination to hit its price goal and undermined its credibility.

Having deployed “the maximum scale of stimulus possible,” the BOJ can now wait to see how much the move will support the economy and prices, Sayuri Shirai said, signaling that no further monetary easing was necessary in the near term.

Nov 25, 2014

Bank of Japan’s Kuroda resolute in fight against deflation, says ready to ease more

NAGOYA/TOKYO, Japan (Reuters) – Bank of Japan Governor Haruhiko Kuroda on Tuesday stressed the bank’s readiness to expand stimulus further to meet its price goal, a message that was partially echoed by an European Central Bank policymaker as the euro zone economy battles to lift off.

In a speech to business leaders, Kuroda stood firm in the face of criticism that last month’s unexpected monetary easing has accelerated unwelcome falls in the currency, saying that the “BOJ will continue to take action” to vanquish deflation.

Nov 25, 2014

BOJ Kuroda resolute in fight against deflation, says ready to ease more

NAGOYA/TOKYO, Japan, Nov 25 (Reuters) – Bank of Japan
Governor Haruhiko Kuroda on Tuesday stressed the bank’s
readiness to expand stimulus further to meet its price goal, a
message that was partially echoed by an European Central Bank
policymaker as the euro zone economy battles to lift off.

In a speech to business leaders, Kuroda stood firm in the
face of criticism that last month’s unexpected monetary easing
has accelerated unwelcome falls in the currency, saying that the
“BOJ will continue to take action” to vanquish deflation.

Nov 25, 2014

BOJ Kuroda, unfazed by yen falls, signals readiness to ease more

NAGOYA/TOKYO, Japan (Reuters) – Bank of Japan Governor Haruhiko Kuroda on Tuesday stressed the bank’s readiness to expand stimulus further to meet its price goal, standing firm in the face of criticism that last month’s monetary easing has accelerated unwelcome falls in the currency.

But not all in the BOJ’s nine-member board share Kuroda’s optimism that further stimulus outweigh the costs, minutes of last month’s meeting showed, suggesting that the central bank chief may struggle to push through more easing.

Nov 19, 2014

BOJ on hold despite grim GDP, Kuroda avoids criticising PM Abe on tax delay

TOKYO (Reuters) – The Bank of Japan kept monetary settings and its upbeat economic view unchanged on Wednesday in the wake of data showing the economy has slipped into recession, preferring to spend more time to gauge the effect of its surprise easing last month.

BOJ Governor Haruhiko Kuroda avoided criticising Prime Minister Shinzo Abe’s decision on Tuesday to delay a tax increase that the central banker had supported as a needed budget-balancing step.

Nov 19, 2014

BOJ stands pat despite grim GDP, focus on Kuroda’s view on tax delay

TOKYO (Reuters) – The Bank of Japan kept monetary settings and its upbeat economic view unchanged on Wednesday in the wake of data showing the economy has slipped into recession, preferring to spend more time to gauge the effect of its surprise easing last month.

As widely expected, the BOJ voted to continue its purchases of government bonds and risky assets, maintaining its pledge of increasing base money, or cash and deposits at the central bank, at an annual pace of 80 trillion yen ($683 billion).

Nov 18, 2014

BOJ meets as economic slump, tax delay cast doubt over outlook

TOKYO, Nov 19 (Reuters) – The Bank of Japan is expected to
hold policy steady when its two-day meeting ends on Wednesday,
but what it has to say about the country’s slide into recession
may unsettle markets already digesting the government’s decision
to call a snap election.

Prime Minister Shinzo Abe said on Tuesday he was postponing
next year’s sale tax hike and calling an early poll to get a
fresh mandate for his reflationary economic policies that have
so far struggled to show lasting results.

Nov 18, 2014

Japan PM to seek fresh mandate for ‘Abenomics’ with snap poll

TOKYO (Reuters) – Japanese Prime Minister Shinzo Abe said on Tuesday that he would call an early election to seek a fresh mandate for his economic policies, and postpone an unpopular sales tax rise, a day after data showed the economy had slipped back into recession.

The world’s third-biggest economy unexpectedly shrank for a second consecutive quarter in July-September, a sign the pain from an initial rise in the sales tax to 8 percent from 5 percent in April was lasting longer than expected.

Nov 18, 2014

Japan’s Abe poised to delay tax hike, announce snap poll

TOKYO (Reuters) – Japanese Prime Minister Shinzo Abe was expected to announce on Tuesday that he will delay an unpopular sales tax rise and call a snap election, a day after data showed the economy had fallen into recession nearly two years after he returned to power.

The world’s third-biggest economy unexpectedly shrank for a second consecutive quarter, data showed on Monday, a sign the pain from an initial rise in the sales tax to 8 percent from 5 percent in April was lasting longer than expected.

Nov 18, 2014

Japan Aso’s signals tax hike delay, says must not happen again

TOKYO, Nov 18 (Reuters) – Japanese Finance Minister Taro Aso
said on Tuesday that raising the sales tax is unavoidable to
rein in the country’s massive public debt, but signalled that
Prime Minister Shinzo Abe is set to delay a second tax increase
scheduled for next year.

The world’s third-largest economy unexpectedly slipped into
recession in the third quarter, data showed on Monday, setting
the stage for Abe to delay the unpopular sales tax hike and call
a snap election next month – two years before he has to go to
the polls.