BOJ

Forex Trading News: Bank of Japan's Shirikawa on the Wires

Mr. Danish FX — Mon, 25 Aug 2008 03:47:38 -0400

Highlights from the BoJ's Shirikawa:

BOJ SHIRIKAWA SAYS MUST OBSERVE SIDE EFFECTS OF EASY MONETARY POLICY
- Adds that monetary policy in difficult phase
- Must watch both upside and downside risks
- Sees GDP growth rates at 1.5%
- Notes that real interest rates are in negative territory
- Does not see a sharp decline in Japanese economy
- Global economic outlook remains uncertain
- Wage growth is stagnating and does not see second round effects yet
- Sees CPI falling after sharp rise
- Observing wage inflation indexing and inflation expectaitons
- Must watch risk of a prolonged accommodative policy

Forex Trading News: Bank of Japan Leaves Interest Rates Unchanged as Forecast

Mr. Danish FX — Tue, 19 Aug 2008 00:12:00 -0400

The Rates were left unchanged at 0.50%:

THE DECISION WAS UNANIMOUS FOR THE 10TH CONSECUTIVE MEETING; SAYS CUTS ECONOMIC VIEW
- BoJ says that it will flexibly take monetary policy actions.
- Must watch risks of keeping low rates for long time.
- Says the economy will likely return to moderate growth path.
- CPI on-yr growth expected to gradually fall.
- Need to watch inflationary expectations and corporate price-setting behavior.
- To watch economic downside and price upside risks.
- Sees downside risks in domestic demand and the global economy.
- International financial market continues to be unstable.

Forex Trading News - BOJ's Sirakawa on the Wire

Alex Chernomordin — Fri, 18 Jul 2008 00:49:51 -0400

The Bank of Japan's Shirikawa spoke in Tokyo noting that the BOJ is putting equal emphasis on the upside potential as much as the downside risks. He added that stabilizing inflation expectations is crucial and a point of emphasis. Additional notes to his statement are as follows:

BOJ has no preset policy direction.
Growth to slow further on rising costs.
Core prices to keep rising above 1.5%.
BOJ see's no signs of second round inflation.
Economy can avoid deep adjustment
BOJ weighs growth and inflation risks equally.

Forex News:BOJ Minutes

Basil Fayad — Thu, 17 Jul 2008 19:54:21 -0400

A few thoughts from the BOJ:

--A Few members saying they should be watching consumer inflation expectations and prices at most Japanese firms.

--Saying that oil and food prices are not causing price effect.

--Wage inflation remains tame in Japan.

--One member urged pre-emptive monetary policy (which could mean rate hike):

Forex News Preview: BOJ Rate Decision Likely to Remain Unchanged

Basil Fayad — Mon, 14 Jul 2008 20:21:16 -0400

The Bank of Japan is concluding its meeting today and it is most likely expected to keep interest rates the same at .5% which is unchanged over the past 20 consecutive months. BOJ governor Shirakawa will speak after that and this may have an effect on USDJPY and cross movement for this evening's Tokyo trading session. Although the BoJ has remained steady on their interest rate for close to the past two years, one of Japan's ex-currency chiefs Gyohten has reportedly said that the BOJ could possible raise rates by 25 basis points in 2008 This news alone was enough to strengthen USDJPY to session low of 106 where it held fast and is currently trading around 106.07.

Forex News: BOJ Shirakawa on the wires

Greg Michalowski — Sun, 06 Jul 2008 20:41:43 -0400

GLOBAL FINANCIAL MARKETS STILL VOLATILE
GLOBAL INFLATION IS RISING
ECONOMY SLOWING BECAUSE OF OIL, MATERIAL COSTS
BOJ TO IMPLEMENT POLICY APPROPRIATELY
JAPAN TO RESUME MODERATE GROWTH AFTER SLOWDOWN

Forex News: BOJ Policy Minutes from April and May Meeting

Greg Michalowski — Tue, 17 Jun 2008 19:55:17 -0400

MEMBERS AGREED GLOBAL INFLATION RISKS WERE HEIGHTENING
MEMBERS SAID BOJ MUST WATCH BOTH ECONOMY AND PRICES
A FEW BOJ MEMBERS SAID NEED TO WATCH INFLATION EXPECTATIONS
A FEW MEMBERS SAID BOJ SHOULD WATCH COMPANIES' PRICE-SETTING
BOJ MEMBERS AGREED NEED TO WATCH UPSIDE AND DOWNSIDE RISKS
ONE MEMBER SAID RESPONSE TO COMMODITY RISE GETTING DIFFICULT
SOME MEMBERS SAID MUST WATCH AFFECT OF COMMODITIES ON ECONOMY
ONE MEMBER SAID U.S.-TYPE CORE CPI MAY NOT SHOW PRICE TREND
ONE BOJ MEMBER SAID CORE, TRIMMED CPI ARE EFFECTIVE TOOLS
ONE BOJ MEMBER SAID MUST WATCH PRODUCER PRICES
MANY BOJ MEMBERS IN APRIL SAID LOW RATES COULD CAUSE SWINGS

The yen has little reaction to the minutes. Last at 107.90. <

Forex Trading News: BOJ's Shirakawa on the Wires

Mr. Danish FX — Fri, 13 Jun 2008 03:42:31 -0400

BOJ SHIRAKAWA:GLOBAL INFLATION RISKS ARE INTENSIFYING; CURRENCIES SHOULD REFLECT FUNDAMENTALS
- Global inflation risks are intensifying and sees further downside risk for the global financial markets
- Adds that FX is not the ONLY factor when considering monetary policy
- No plans to revise BoJ policy on jGB open market operations
- Downside risks for both US and Japanese economy remain high
- Says that BoJ to adopt the right policy for Japan for the sake of global economy
- BoJ is closely watching inflation expectations, weakening income and domestic demand
- Adds that fears regarding of US and European bank losses remains
- Desires the economy to be strong and for FX to reflect that

Forex Trading News: The Bank of Japan Monthly Report Released

Mr. Danish FX — Fri, 13 Jun 2008 02:11:35 -0400

BOJ LEAVE ECONOMIC ASSESSMENT UNCHANGED IN JUNE; DOWNGRADES VIEW ON EXPORTS & CORP PROFITS
- Says economy is slowing on high energy and material costs
- Says Japan on moderate growth track
- Exports continue to rise but at a slower pace
- Corporate profits are falling on deteriorating trade conditions and to fall for some time before resuming its uptrend
BOJ SAYS EXPORTS CONTINUE TO RISE BUT AT A SLOWER PACE
- Economy to grow at a slower pace fro now and sees moderate growth in the future
- Corporate profits are falling on deteriorating trade conditions and to fall for some time before resuming its uptrend
- Japanese economy is slowing due to high energy and commodities prices
- Housing investment recovery to slow and then to end

Forex Trading News: BOJ Shirakawa on the Wires

Mr. Danish FX — Tue, 20 May 2008 03:38:30 -0400

Highlights from Shirakawa:

BOJ WILL IMPLEMENT FLEXIBLE POLICY; SPENDING FORMATION IN THE ECONOMY IS WEAKENING

- BOJ is monitoring consumer inflation expectations

- Higher commodity prices are affecting capex

- Japanese terms of trade are worsening