• Friday, April 19, 2019 - 00:25 MNI POLICY: BOJ Cuts Scale of Longer-End JGB Buying Operations 0

    TOKYO (MNI) - The Bank of Japan on Friday unexpectedly reduced the scale of its purchases of longer-end Japanese government bonds.

    - The BOJ Friday lowered its purchases of JGBs with a remaining life of 10 to 25 years to Y160 billion from Y180 billion. The reduction was the first since Feb 12 when the BOJ lowered the scale to Y180 billion from Y200 billion.

    - The amount of purchase of JGBs with a remaining life of more than 25 years was lowered to Y40 billion from Y50 billion. That cut was the first since Sept 21 2018 when the BOJ lowered the scale of Y50 billion from Y60 billion.

    - The reduction weren't expected by JGB players and the operations increased upward pressure on bond yields.

  • Thursday, April 18, 2019 - 20:45 MNI: BOJ Survey: Corp Loan Demand Drops, Households Unchanged 0

    TOKYO (MNI) - Japanese corporate demand for financing via bank loans in April fell from three months ago as the slowing global economy decreased companies' sales and capital investment, according to the Bank of Japan's quarterly survey of senior loan officers at 50 banks released Friday.

    The index for corporate fund demand -- calculated by subtracting the number of banks reporting a decline in lending from the number of those reporting an increase -- came in at +3 in April, down from +4 in January.

  • Thursday, April 18, 2019 - 20:30 MNI POLICY: Japan Mar CPI Quickens as BOJ Keeps Caution Intact 0

    --Japan Core CPI Up 0.8% y/y In March Vs. +0.7% in February

    TOKYO (MNI) - Japan's nationwide core consumer price index rose 0.8% on year in March, accelerating from +0.7% in February. However, Bank of Japan officials maintain cautious on the outlook as they don't expect the rising trend to accelerate sharply.

    The March core CPI continued to be boosted by positive contribution from energy prices (0.39 percentage point in March vs. 0.34 percentage point in February and 0.37 percentage point in January).

    The underlying inflation rate measured by the core-core CPI (excluding fresh food and energy) rose 0.4% on year in March, unchanged from February.

  • Thursday, April 18, 2019 - 10:45 MNI INTERVIEW: US On Track For Healthy Growth: Fed's Athreya 0

    By Jean Yung

    WASHINGTON (MNI) - The U.S. economy is on track for continued growth and for inflation to remain near target after the Federal Reserve suspended its three-year tightening campaign this year, Richmond Fed research director Kartik Athreya said in an interview Wednesday.

    He added that domestic risks look benign relative to uncertainties from abroad and dismissed concerns that a brief inversion of the three-month-10-year yield curve last month portended a near-term recession, noting that negative term premia have been a drag on long-term rates.

    "Things are coming back to where one would have expected them, and it's not warranted to put a great deal of weight at this point to a recession or a significant downturn...

  • Thursday, April 18, 2019 - 08:31 MNI DATA IMPACT:Canada Feb Retail Sales +0.8%,Top Expectations 0

    By Yali N'Diaye

    OTTAWA (MNI) - The following are the key points from the data on Canadian retail sales released Thursday by Statistics Canada:

    - Following three consecutive monthly declines, retail sales rebounded 0.8% in February, beating the market consensus of +0.4%. The increase was the largest since May 2018 and lifted the 12-month growth rate to 1.8% from 0.9%. The gain more than erased the 0.4% drop recorded in January, which was revised from -0.3%.

    - Details were more mixed than the headline suggests. The gain was mostly a price story as real sales, more relevant to GDP, edged up just 0.2%, failing to offset January's 0.3% decrease.

    - In addition, gains were concentrated in 5 of 11 subsectors...

  • Thursday, April 18, 2019 - 02:55 MNI POLICY: China Current Account to Continue A Surplus: SAFE 0

    BEIJING (MNI) - China's current account may continue a surplus in the first quarter on exports of goods and services remaining strong, the State Administration of Foreign Exchange (SAFE) said.