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Japan’s inflation expectations: glass half empty?
“Inflation expectations appear to be rising on the whole.” Check out the last 11 policy statements from the Bank of Japan: you’ll find the same line, an upgrade from a milder assertion about “some...
View ArticleHow the eurozone crisis could impact Asia
The People’s Bank of China has not cut rates twice in a month solely because the domestic economy is showing signs of slowing down. Officials in Beijing, and elsewhere in Asia, are easing monetary...
View ArticleThe week ahead in central banking
Our week ahead email helps you to track the most important events in central banking. To see all of our emails and alerts visit www.ft.com/nbe Bernanke testimony Fed chairman Ben Bernanke faces...
View ArticleChina’s property prices come of age
It is often said that China will grow old before it gets rich. The argument goes that China’s rapidly-aging population and gender imbalance – a result of its one-child policy – will stymie growth...
View ArticleBoJ retaliates
The Bank of Japan’s announcement today of an additional Y10tn ($126bn) of quantitative easing caught markets off guard. Many had expected action next month, when the central bank will release its...
View ArticleCurrency wars: more love-thy-neighbour than beggar-thy-neighbour?
Foreign exchange intervention has long had a bad reputation; it earned the beggar-thy-neighbour tag back in the 1930s. Now, even actions that aren’t explicitly aimed at influencing the exchange rate,...
View ArticleBoJ revolution: five things you need to know
The Bank of Japan delivered a statement of intent on Thursday. Under its new governor, Haruhiko Kuroda, the central bank intends to eliminate the persistent deflation of the past 15 years within a...
View ArticleForward guidance: no success like failure?
Forward guidance is central banking’s latest fad. Since the nadir of the crisis, all four of the major central banks have adopted their own version of it. But is this fashion for keeps? That depends on...
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Japan and the mistaken quest for QQE2
Next week’s policy meeting at the Bank of Japan is expected to be much like the 14 others since the dawn of “quantitative and qualitative easing” (QQE) last April: plenty of upbeat talk about...
View ArticleDeflation: history lessons
Throughout its campaign to convince everyone that the eurozone is not about to fall into deflation, the European Central Bank has drawn a distinction between two different sorts of episodes of falling...
View ArticleThe week ahead in central banking
Our week ahead email helps you track the most important events in central banking. To see all of our emails and alerts visit www.ft.com/nbe Inflation Report The Bank of England’s Inflation Report is...
View ArticleJapan’s odd inflation target
Central banks are nothing if not dedicated followers of fashion. Less than a month after the Federal Reserve opted for an explicit inflation target, the Bank of Japan has followed suit. However, the...
View ArticleEurozone central bankers and the taboo subject of losses
Fifteen years ago, a little-known tragedy hit the Bank of Japan. In the mid 1990s – or during the early stages of Japan’s banking crisis – BoJ officials decided to use some of the central bank’s own...
View ArticleMr Shirakawa’s open ‘goal’
If there was ever any doubt that the Bank of Japan’s adoption of an inflation “goal” owed everything to political pressure and nothing to economic theory, then it was removed by Masaaki Shirakawa. The...
View ArticleThe week ahead in central banking
Our week ahead email helps you track the most important events in central banking. To see all of our emails and alerts visit www.ft.com/nbe FOMC/ BoJ votes The Federal Open Market Committee and the...
View ArticleIs more BoJ easing on the cards?
As most suspected, the Bank of Japan did little today to step up its fight against deflation. Bar some tinkering with its special lending facilities, the BoJ kept policy on hold with the size of its...
View ArticleThe week ahead in central banking
Our week ahead email helps you to track the most important events in central banking. To see all of our emails and alerts visit www.ft.com/nbe Bernanke goes back to school Ben Bernanke, Fed chairman,...
View ArticleShirakawa: Four problems with aggressive monetary policy
Masaaki Shirakawa, the governor of the Bank of Japan, gave a subtle and interesting speech this weekend that may not have been totally comfortable for his hosts at the Federal Reserve. Mr Shirakawa set...
View ArticleRoRo and the BoJ
The Bank of Japan’s monetary policy decision on Friday has been powerfully talked up by analysts and officials alike, with the bank under real political pressure to satisfy market expectations and...
View ArticleThe week ahead in central banking
Our week ahead email helps you to track the most important events in central banking. To see all of our emails and alerts visit www.ft.com/nbe BoE minutesRead more
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