Central Banks

  • 2019-08-18 21:46


    TOKYO (MNI) - Kazushige Kamiyama, a former representative of the Bank of Japan's New York branch, has been promoted as the bank's chief economist and director-general of the BOJ Research and Statistics Department, effective immediately.

    The Bank of Japan announced the appointment on Monday, along with that of Toshitaka Sekine, the former chief economist, who has been appointed as the head of the Institute for Monetary and Economic Studies, the BOJ thinktank.

    --MNI Tokyo Bureau; tel: +81 90-2175-0040; email: hiroshi.inoue@marketnews.com
    --MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

    [TOPICS: MAJDS$,MMJBJ$,M$A$$$,M$J$$$]

  • 2019-08-09 07:03


    LONDON (MNI) - The Yuan has been the go-to barometer for global sentiment this week, unsurprisingly after the U.S.

  • 2019-08-08 21:34


    TOKYO (MNI) - The Bank of Japan Friday lowered the scale of its purchases of medium- and super long-term Japanese government bonds, while increasing the size of purchases for JGBs with a remaining life of 1 to 3 years.

    JGBs were little influenced by the BOJ's decisions after bonds opened higher, taking their lead from strong U.S.

  • 2019-08-06 15:49


    By Jean Yung

    WASHINGTON (MNI) - St. Louis Fed President Jim Bullard on Tuesday said he supports one more quarter-point rate cut by December as insurance against the risk that trade policy uncertainty further drags down growth and to bolster inflation.

    Speaking to reporters after giving a speech to the National Economists Club, Bullard said he anticipates trade policy uncertainty to stay high but cautioned that monetary policy should not respond to every threat and counter-threat.

    "I had already penciled in 50 basis points (in cuts) as of June. We made one of those moves at the July meeting and could make another one of those by the end of the year.

  • 2019-08-05 13:39


    By Evan Ryser

    WASHINGTON (MNI) - The Federal Reserve will launch a real-time payment system in 2023-2024 capable of making transactions within the United States in seconds

    The FedNow Service will initially be limited to transactions of no more than $25,000, the Fed said, adding that it will explore how the new service will be able to most effectively support the broader U.S. payment system.

    "FedNow will permit banks of every size in every community across the country to provide real-time payments to their customers," Federal Reserve Governor Lael Brainard said in prepared remarks in a Kansas City Town Hall.

  • 2019-08-05 00:34


    TOKYO (MNI) - Bank of Japan, Ministry of Finance and Financial Services Agency officials will meet from 1345 JST (0445 GMT) on Monday to exchange views amid the yen's rise and the sharp fall in the Nikkei stock index.

    The officials meet periodically to exchange views on global financial markets and Monday's meeting is the first since Thursday.

    As of 1307 JST (0407 GMT), the Nikkei stock index was at 20,594.05, down 493.11 points or 2.34% from Friday's close.

    The dollar traded at around Y106.02, down Y0.57 on Friday's close due to a narrowing interest rate gap between the U.S.

  • 2019-08-02 08:50


    By Jean Yung

    WASHINGTON (MNI) - Federal Reserve Bank of Boston President Eric Rosengren on Friday said he voted against the rate cut this week due to "somewhat elevated" concerns over financial stability and economic indicators showing the Fed is close to achieving its dual mandate.

    "With the unemployment rate near 50-year lows and inflation likely to rise toward the 2% target, and with financial stability concerns being somewhat elevated given near-record equity prices and corporate leverage, I do not see a clear and compelling case for additional monetary accommodation at this time," Rosengren said in a statement posted on the Boston Fed website.

    The Boston Fed chief laid out eight charts that illustrate his point. The charts showed the U.S.

  • 2019-07-31 23:06


    KAGOSHIMA, Japan (MNI) - Bank of Japan Deputy Governor Masayoshi Amamiya said Thursday that the BOJ as well as other central banks will conduct policy as appropriate, without preconceptions.

    Packages of various measures, such as lowering short- and long-term interest rates, expanding asset purchases and accelerating the expansion of the monetary base, are possible, Amamiya told business leaders in Kagoshima City.

    The BOJ backed away from pre-emptive easing measures Tuesday, leaving policy unchanged, as the economy continues its moderate expansion, underpinned by solid domestic demand, although it admitted to greater downside risks to both activity and prices.

    The BOJ warned, "In particular, in a situation where downside risks to economic activity and prices, mainly

  • 2019-07-31 15:13


    WASHINGTON (MNI) - The following is the portion of a transcript from Federal Reserve Chairman Jerome Powell's press conference after the FOMC meeting Wednesday:

    Q: Hi, Jean with MNI. Can you give us an update on the ongoing reassessment of the inflation framework, and have the discussions this year had any bearing on todays discussion?

    A: The monetary policy review is really for -- it's really there to look at the way we make policy in the longer run. And it's not something that enters directly into our discussions today. We've -- so far we've had a series of meetings called Fed Listens at almost all the reserve banks, soon it will be all the reserve banks. We meet there with the constituencies we serve.

  • 2019-07-31 15:04


    WASHINGTON (MNI) - The following is the portion of a transcript from Federal Reserve Chairman Jerome Powell's press conference after the FOMC meeting Wednesday:

    Q: You've talked in this press conference about being data-dependent going forward, and this is not the start of a series of rate cuts. But the financial markets seem to think that this is the start of a series of rate cuts, and they're predicting three or four cuts this year. Is this your effort to try to damp down that thinking?

    A: Let me be clear. I said it's not the beginning of a long series of rate cuts. I didn't say it's just one or anything like that. I said when you think about rate cutting cycles they go on for a long time. The committee is not seeing that, not seeing us in that place.