Asia

  • 2020-01-28 00:25


    TOKYO (MNI) - Japan's government on Tuesday nominated Seiji Adachi, 54, chief economist at Marusan Securities, as a successor to BOJ board member Yutaka Harada, Diet officials confirmed to MNI.

    A series of nominations to a key parliamentary committee for candidates to replace officials in major positions expiring by April included that for the replacement BOJ board position, the official said.

    Pending parliamentary approval, Adachi will replace Harada, whose five-year term on the nine-member BOJ board ends Mar. 25.

  • 2020-01-27 01:11


    TOKYO (MNI) - Japan's government will submit the names of candidates to take major government posts to the Diet on Jan. 27, a Diet official said Monday.

    The official didn't elaborate on what positions would be among the nominations, but the lists will likely include candidate of Yutaka Harada, Bank of Japan board member and whose five-year term ends on Mar.

  • 2020-01-23 20:01


    --Japan Dec Core CPI +0.7% Y/Y; MNI Median +0.7%; Nov +0.5%
    --Japan Dec Core-Core CPI +0.9% Y/Y; Nov +0.8%
    --Japan Dec CPI Energy Costs -0.6% Y/Y; Nov -2.1%

    TOKYO (MNI) - Japan's December annual core consumer inflation rate accelerated from the previous month's level on the back of higher certain food prices, household durable goods and service prices, data from the Ministry of International Affairs and Communication released Friday showed.

    The key points from the latest CPI data:

    -- The national average core consumer price index (excluding fresh food) rose for a 36th straight month in December, rising 0.7% y/y, accelerating from a gain of 0.5% in November and in line with the MNI median forecast of a 0.7% gain.

    -- Accelerating inflation rate was expected, as it

  • 2020-01-23 19:44


    TOKYO (MNI) - The Bank of Japan must consider possible pre-emptive policy options to cope with greater downside risks to economic activity and prices, a few Board members suggested at the December 18-19 policy-setting meeting, according to the minutes released Friday.

    However, many board members were prepared to stick with the current easy policy, while closely watching developments.

    One member voiced concern over side-effects from the Bank's easy policy, citing the deceleration in lending by regional financial institutions.

    The BOJ voted 7-2 to left monetary policy unchanged at the meeting, as widely expected, repeating that "downside risks concerning overseas economies seem to remain significant, and it also is necessary to pay close attention to their impact on firms'

  • 2020-01-22 20:38


    TOKYO (MNI) - Financing demand by Japanese corporates through bank loans fell in January from the previous three months, according to the Bank of Japan's latest quarterly survey of senior loan officers at 50 banks released on Thursday.

    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 -- stood at +2 in January, down from +3 in October, as demand was hit by the drop in sales and capital investment.

    The latest survey period was from December 10 to January 14.

    Other key points from the survey:

    --The index for demand from large companies rose to +1 from -4 and the index for small businesses fell to +1 from +4.

    --The index for fund demand expected

  • 2020-01-22 01:49


    TOKYO (MNI) - The Bank of Japan warns that corporate investment may slow if profits at automobile-related goods and capital goods firms declined, according to full text of the quarterly Outlook Report published Wednesday.

    "Business fixed investment, (a main pillar for an economic recovery), is expected to remain steady overall as firm investments in construction as well as in software and research and development offset weak machinery investment by manufacturers," the report said.

    "However, since some weakness has continued in exports and production - particular in automobile-related goods and capital goods, both of which have a large impact on Japan's economy - due attention needs to be paid to the possibility that firms' investment stance may become cautious if profits

  • 2020-01-20 08:00


    TOKYO (MNI) - The International Monetary Fund on Monday upgraded its forecast for Japan's GDP growth in 2020 to 0.7% from October's 0.5%, due partly to the government stimulus measures.

    Japan's GDP forecast in 2019 was revised up to 1.0% from 0.9% made in October, while the IMF left its outlook for 2021 unchanged at 0.5%.

    "The upward revision to estimated 2019 growth reflects healthy private consumption, supported in part by government countermeasures that accompanied the October increase in the consumption tax rate, robust capital expenditure, and historical revisions to national accounts," the IMF said in the latest World Economic Outlook

    "The upgrade to the 2020 growth forecast reflects the anticipated boost from the December 2019 stimulus measures.

  • 2020-01-15 01:36


    --BOJ: 6 Out of 9 Japan regions Keep Econ View From Oct, 3 Regions Cut

    TOKYO (MNI) - Japan's economy continues to either expand or recover in all its nine regions as domestic demand, such as capital investment and private consumption, continue rising, the Bank of Japan's quarterly regional economic report showed Wednesday.

    "According to assessment from regions across Japan, all nine regions reported that their economy had been either expanding or recovering," the report said.

    The report noted that the slowdown in overseas economies and natural disasters were affecting exports, production and business sentiment, but the impact was limited.

    It added, "The background to this was that domestic demand, in terms of such items as business fixed investment and private consu

  • 2020-01-15 01:00


    --BOJ: 6 Out of 9 Japan regions Cut Econ View From Oct, 3 Regions Cut

    TOKYO (MNI) - Japan's economy continues to either expand or recover in all its nine regions as domestic demand, such as capital investment and private consumption, continue rising, the Bank of Japan's quarterly regional economic report showed Wednesday.

    "According to assessment from regions across Japan, all nine regions reported that their economy had been either expanding or recovering," the report said.

    The report noted that the slowdown in overseas economies and natural disasters were affecting exports, production and business sentiment, but the impact was limited.

    It added, "The background to this was that domestic demand, in terms of such items as business fixed investment and private consum

  • 2020-01-14 21:47


    TOKYO (MNI) - Bank of Japan Governor Haruhiko Kuroda has maintained his bright outlook for Japan's economy and prices, but says the BOJ will not hesitate to take additional easing measures if needed.

    "Japan's economy is likely to continue on a moderate expanding trend, as the impact of the slowdown in overseas economies on domestic demand is likely to be limited," Kuroda said at the opening of the quarter branch managers' meeting on Wednesday.

    In additional comments, Kuroda said: "The BOJ will adjust policy in order to keep the momentum toward achieving the price stability target."

    Kuroda largely repeated his previous remarks on economic conditions and the conduct of monetary policy.

    The key points in Kuroda's remarks were:

    --"The BOJ will not hesitate t