TOKYO—Bank of Japan Governor Haruhiko Kuroda said rapid yen moves were undesirable after a meeting with Prime Minister Fumio Kishida on Friday, joining a chorus of policymakers lobbing verbal warnings over the currency’s recent sharp drop to 24-year lows. “Sharp currency moves are undesirable as they destabilize corporate business plans and heighten uncertainty,” Kuroda told…
BOJ Policymaker Vows to Keep Ultra-Low Rates, Dovish Guidance
TOKYO—The Bank of Japan must maintain massive monetary stimulus and its dovish policy guidance until wages show clearer signs of increasing, one of its board members said, reinforcing the central bank’s outlier status in a global wave of monetary tightening. Board member Toyoaki Nakamura also ruled out the chance of tweaking Japan’s ultra-low interest rates…
Japan’s Inflation Gauges Jump to Record High
Japan’s underlying inflation measures increased the most ever on record, as higher energy prices and a weak yen continue to compel businesses to pass their costs onto consumers. Multiple gauges showed new records and signaled broader inflation, according to data released on Tuesday by the Bank of Japan, that nation’s central bank. The trimmed mean—a…
Japan’s Inflation Holds Above BOJ Target, Price Pressures Broaden
TOKYO—Japan’s core consumer inflation accelerated in July to its fastest in seven-and-a-half years, driven by fuel and raw material prices and adding to the costs of living for households yet to see significant wage gains. In a sign of broadening price pressure, the so-called “core core” index that strips away not just the impact of…
Bank of Japan Governor Warns of High Economic Uncertainty, Repeats Easy Policy Bias
TOKYO—Bank of Japan (BOJ) Governor Haruhiko Kuroda on Monday warned of “very high uncertainty” over the economic outlook and stressed anew the central bank’s readiness to ramp up stimulus as needed to underpin a fragile recovery. The remarks reinforce market expectations the BOJ will remain an outlier among a global wave of central banks raising…
Bank of Japan Maintains Ultra-Low Rates Despite Yen’s Rapid Fluctuations
The Bank of Japan (BOJ) said on Friday that it would keep monetary easing and ultra-low interest rates in place, despite the rapid fluctuations of the yen, which fell to 134.04 yen per dollar on Friday. The BOJ said after its policy meeting ended on Friday that it would retain short-term interest rates at -0.1…
Nearly Half of Japan Firms See Weak Yen as Bad for Business: Survey
TOKYO—Nearly half of the Japanese companies see the weak yen as bad for their business, a private survey showed on Tuesday, suggesting the currency’s recent sharp decline is hurting business sentiment and clouding the economic outlook. The yen’s decline to a 24-year low against the dollar is inflating the cost of raw material imports, hurting…
Bank of Japan Governor Kuroda Says Japan Inflation to Stay Around 2 Percent for a Year
TOKYO—Bank of Japan (BOJ) Governor Haruhiko Kuroda said on Friday the country’s core consumer inflation will likely remain around the central bank’s 2 percent target for 12 months unless energy prices drop sharply. But he told parliament that prices likely would not rise “sustainably and stably” unless accompanied by wage hikes, suggesting the recent increase…
Kuroda Says BOJ Can Achieve Smooth Exit From Loose Money Policy
TOKYO—Bank of Japan Governor Haruhiko Kuroda said on Thursday the central bank can execute a smooth exit from its ultra-loose monetary policy, though doing so “won’t be easy.” Kuroda repeated his view that the central bank must maintain ultra-easy monetary policy for now, with consumer inflation expected to slow next year and beyond, after speeding…
BOJ Says Fuel, Food-Driven Gains to Keep Propping up Japan Inflation
TOKYO—Japan’s consumer inflation will continue to face upward pressure later this year from rising electricity bills and food prices, as the recent surge in commodity prices hits the economy with a lag, the central bank said on Monday. As Japanese utilities set electricity bills based on the average import cost several months before, the upward…
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