Japan Monetary Policy


Japan: The BoJ pumps more money into the market

April 7, 2011

At its 7 April meeting, the Bank of Japan (BoJ) unveiled the framework for the Funds-Supplying Operation to Support Financial Institutions in Disaster Areas, after the finance minister urged the BoJ to enhance its supportive monetary policy stance in the zones hit by the earthquake. The BoJ will provide JPY 1 trillion (USD 12 billion) of long-term funds to financial institutions in the devastated areas, in order to ensure sufficient funds are available for restoration and rebuilding efforts. In addition, the BoJ will also broaden the range of eligible collateral for money market operations. Since the earthquake on 11 March, the Central Bank has provided ample funds to meet demand in the money market, injecting more than JPY 5 trillion (USD 60 billion) through its Asset Purchase Program. In a separate move, the BoJ downgraded its economic assessment for the first time since October, as the earthquake has sharply dampened production in some areas by damaging production facilities, disrupting the supply chain, and constraining electric power supply, however the economy is expected to return to a moderate recovery path in the near future.


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Japan Economic News

  • Japan: Machinery orders decline in May

    July 11, 2018

    Although core machinery orders—a leading indicator of capital spending over a three- to six-month period—contracted in May, the fall was weaker-than-expected, suggesting that capital expenditure will gain steam further down the road.

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  • Japan: Business confidence weakens in Q2

    July 2, 2018

    According to the Bank of Japan’s quarterly Tankan business survey, sentiment among large manufacturers fell in the second quarter of 2018, suggesting economic momentum has yet to gain traction following a weak first quarter.

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  • Japan: Consumer confidence declines marginally in June

    June 29, 2018

    Consumer sentiment inched down to 43.7 in June from 43.8 in May, coming in just below market expectations of a stable print.

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  • Japan: Industrial production falls in May

    June 29, 2018

    Industrial production contracted 0.2% on a month-on-month and seasonally-adjusted basis in May, contrasting April’s revised 0.5% increase (previously reported: +0.3% month-on-month).

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  • Japan: Core inflation stable in May

    June 22, 2018

    The core consumer price index rose 0.1% in month-on-month seasonally-adjusted terms in May, reversing April’s 0.1% fall. Core inflation was steady at 0.7% in May, unchanged from April and in line with market expectations.

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