BOJ deputy vows to maintain monetary stimulus despite price pressures

TOKYO – The Bank of Japan must maintain current monetary stimulus to create sustainable increases in prices, corporate profits, jobs and wages, its deputy governor said on Tuesday, dismissing speculation about an early exit from accommodative settings. With inflation in Japan far below levels in the United States and elsewhere, the BOJ is lagging well behind other major central banks in dialing back crisis-mode stimulus. However, surging global commodity prices and the weakening yen have…

"BOJ deputy vows to maintain monetary stimulus despite price pressures"

Japan announces limited “test tourism” from May as step to full re-opening

TOKYO – Japan said on Tuesday it would start conducting “test tourism” in the form of limited package tours in May as a way of gathering information prior to a full re-opening of the country to tourism. Though tourism was a major pillar of Japan’s economy, tourists have not been permitted to enter since it adopted strict border controls in 2020 at the start of the coronavirus pandemic. Regulations have been loosened slightly to allow…

"Japan announces limited “test tourism” from May as step to full re-opening"

Gold prices buckle under pressure from ‘King Dollar’, higher yields

– Gold prices fell more than 1% to their lowest in 3-1/2 months on Monday as elevated bond yields and a firmer U.S. dollar dampened bullion demand, even as riskier assets dropped after grim China economic data. A stronger dollar makes gold expensive for overseas buyers, while higher Treasury yields raise the opportunity cost of holding zero-yield bullion. Spot gold was down 0.7% at $1,798.80 per ounce as of 0920 GMT, after hitting its lowest…

"Gold prices buckle under pressure from ‘King Dollar’, higher yields"

Japan’s Recruit sees more female executives as key to growth

TOKYO – Glassdoor owner Recruit Holdings says it wants to have women in 50% of its senior executive and managerial roles within 10 years – a rare pledge in a country where men dominate the top echelons of companies, politics and the civil service. The push for more women at the upper levels of Japan’s largest staffing agency is part of a diversity drive to ensure a flow of bright business ideas, said Chief Operations…

"Japan’s Recruit sees more female executives as key to growth"

BOJ’s Kuroda warns against excess FX volatility

TOKYO – Bank of Japan Governor Haruhiko Kuroda said on Monday that currencies should move stably, reflecting economic fundamentals, because excess volatility such as seen recently would make it hard to make business plans. “Excess volatility in a short term as seen recently is undesirable,” Kuroda told Japan’s upper house of parliament. He would keep close watch on the impact of currency moves on Japan’s economy and prices, he said.

"BOJ’s Kuroda warns against excess FX volatility"

Nakaso, candidate to head BOJ, calls for faster green growth strategy

TOKYO – Japan needs a faster “third arrow” growth strategy focussing on promoting a carbon-neutral society, including by creating a financial hub in Tokyo for Asian firms aiming to go green, said Hiroshi Nakaso, considered a front-runner to be the country’s next central bank chief. Massive monetary and fiscal stimulus deployed in 2013 as the first two “arrows” of then-premier Shinzo Abe’s “Abenomics” policies reflated the economy. But the third, structural reform, barely took flight,…

"Nakaso, candidate to head BOJ, calls for faster green growth strategy"

Japan wholesale prices hit record 10% as energy costs soar

TOKYO -Japan’s wholesale prices in April jumped 10% from the same month a year earlier, data showed on Monday, rising at a record rate as the Ukraine crisis and a weak yen pushed up the cost of energy and raw materials. The surge in the corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, marked the fastest year-on-year rise in a single month since comparable data…

"Japan wholesale prices hit record 10% as energy costs soar"

N.Korea reports more deaths, says taking ‘swift measures’ against COVID outbreak

SEOUL -North Korea said on Sunday a total of 42 people had died as the country began its fourth day under a nationwide lockdown aimed at stopping the impoverished country’s first confirmed COVID-19 outbreak. On Thursday North Korea acknowledged for the first time a COVID outbreak and ordered the lockdowns. State news agency KCNA said the country was taking “swift state emergency measures” to control the epidemic. “All provinces, cities and counties of the country…

"N.Korea reports more deaths, says taking ‘swift measures’ against COVID outbreak"