The Bank of Japan kept ultra-low interest rates on Friday but decided to start trimming its huge bond purchases in a slow but steady retreat from its massive monetary stimulus. While it will continue to buy government bonds at the current pace of roughly 6 trillion yen ($38 billion) per month, the central bank decided … Read more
The yen’s fresh slide to a 34-year low complicates the Bank of Japan‘s deliberations on the timing of a next interest rate hike, as a resulting rise in import costs pushes up inflation but also hurts already weak consumption and the broader economy. If that weakness persists and discourages small firms from hiking pay, the … Read more
HONG KONG: The euro held at a one-month high against the dollar on Thursday, having rallied on hopes the war in Ukraine might be entering a new de-escalating phase, while the yen was set for its worst month since November 2016. The European single currency was at $1.1175 holding its highest in a month, having … Read more
TOKYO—Japan’s next leader will face a question many other countries are now grappling with because of the coronavirus pandemic: How much can central banks do to pull economies out of a deep malaise? Shinzo Abe, who said Friday he would resign after nearly eight years in office because of illness, leaned heavily on the Bank … Read more