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Japan PM Says Global Communication Skills Key For New BOJ Head Pick

Japanese Prime Minister Fumio Kishida said the new central bank governor must have strong communication skills and be able to closely coordinate with global peers, offering his most explicit comment

Masazumi wakatabeIzuru katoFumio kishidaHiroshi nakasoMasayoshi amamiyaHaruhiko kurodaNobuyasu atagoLehman brothersTotan researchJapanese prime minister fumio kishidaGovernor masayoshi amamiyaAsia pacific economic cooperation

BoJ defies market bets for policy tweaks, sending yen tumbling

BoJ defies market bets for policy tweaks, sending yen tumbling
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Izuru katoHaruhiko kurodaTotan researchGovernor haruhiko kuroda

BOJ defies market bets for policy tweaks, yen tumbles

The surprise decision sent the yen skidding against other currencies and bond yields tumbling the most in decades, as investors unwound bets they made anticipating the central bank would overhaul its yield control policy. Instead of changing its stimulus programme, the BOJ crafted a new weapon to prevent long-term rates from rising too much - a move some analysts took as a sign Governor Haruhiko Kuroda will hold off on making big policy shifts during the remaining months of his term, which ends in April.

Izuru katoHaruhiko kurodaTotan researchGovernor haruhiko kuroda

BOJ defies market bets for policy tweaks, sending yen tumbling

The central bank also made no change to its guidance that allows the 10-year bond yield to move 50 basis points either side of its 0% target. In a sign of its resolve to keep defending the cap, the BOJ beefed up a key market operation tool to more effectively curb rises in long-term interest rates.

Izuru katoHaruhiko kurodaTotan researchGovernor haruhiko kurodaThe bank of japanIzuru katoHaruhiko kuroda

BOJ defies market bets for policy tweaks, sending yen tumbling | The Asahi Shimbun: Breaking News, Japan News and Analysis

The Bank of Japan on Wednesday maintained ultra-low interest rates, including a bond yield cap it was struggling to defend, defying market expectations it would phase out its massive stimulus program amid mounting inflationary pressure.

Izuru katoHaruhiko kurodaTotan researchGovernor haruhiko kurodaAsahi shimbun