-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Global Macro Weekly -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI EUROPEAN OPEN: A$ & Local Yields Surge Following Jobs Data
MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday
MNI: BOJ Will Not Hike During Unstable Markets - Uchida
Bank of Japan Deputy Governor Shinichi Uchida said on Wednesday that the BOJ will not raise its policy interest rate while financial and capital markets are unstable.
“In contrast to the process of policy interest rate hikes in Europe and the United States, Japan's economy is not in a situation where the BOJ may fall behind the curve if it does not raise the policy interest rate at a certain pace,” Uchida told business leaders in Hakodate City. “Therefore, the Bank will not raise its policy interest rate when financial and capital markets are unstable.”
"Since recent developments in financial and capital markets at home and abroad have been extremely volatile, the Bank is monitoring developments in these markets and their impact on economic activity and prices with utmost vigilance, and it will conduct monetary policy as appropriate. Let me reiterate my view that the Bank needs to maintain monetary easing with the current policy interest rate for the time being."
Uchida said the BOJ is monitoring recent volatile markets and their impact on economic activity and prices "with utmost vigilance, and it will conduct monetary policy as appropriate.”
U.S. SOFT LANDING
Uchida also said that the U.S. economy will most likely have a soft landing and that the rise in Japanese stock prices is attributable to the improvement in corporate profitability.
“Since it is unlikely that there have been significant changes in economic fundamentals in both countries, the reaction to the U.S. economic indicators for a particular month seems too large,” Uchida said.
He repeated remarks made by Governor Kazuo Ueda that developments in economic activity and prices as well as financial conditions will drive future policy decisions.
“If the aforementioned outlook for economic activity and prices will be realised, the Bank will accordingly continue to raise the policy interest rate and adjust the degree of monetary accommodation,” Uchida said. "It should be noted that this approach is conditioned by the phrase ‘if the outlook for economic activity and prices will be realised.'"
He added a policy interest rate of about 0.25% is significantly low, "not only in nominal terms but especially in real terms.”
The Bank will therefore continue to support the economy by maintaining highly accommodative financial conditions, he said.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.