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Bank of Japan expected to raise rates this month, sources say

Bank of Japan expected to raise rates this month, sources say TOKYO, June 4 : The Bank of Japan is expected to raise interest rates this month unless a sharp escalation in the Middle East conflict upends markets, three sources said, as rising fuel costs from the energy shock add to mounting price pressure in the economy. With hostilities flaring anew in the Iran war, central bank policymakers will scrutinise developments in the Middle East and their fallout on Japan's economy until the last...

Channel News Asia 6d ago

Japan's largest banks to jointly issue stablecoins by March 2027

Japan's largest banks to jointly issue stablecoins by March 2027 TOKYO, June 10 : Japan's three largest banks said on Wednesday they will jointly issue stablecoins during the current fiscal year ending in March 2027, a sign of growing momentum for digital payments in a country where cash and credit cards remain popular. The banking arms of Japan's three largest financial groups - Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group - will set up a...

Channel News Asia 6h ago

Japan wholesale inflation accelerates to fastest in 3 years as energy costs spike

Japan wholesale inflation accelerates to fastest in 3 years as energy costs spike TOKYO, June 10 : Japan's wholesale inflation accelerated in May at the fastest pace in three years as price pressures from the Middle East war broadened, data showed on Wednesday, adding to the case for further interest rate hikes by the central bank. The Bank of Japan meets next week and is expected to deliver its first interest rate hike since December to cope with mounting inflationary pressures from a weak...

Channel News Asia 8h ago

BOJ should signal clear rate path after June hike, SMFG markets chief says

BOJ should signal clear rate path after June hike, SMFG markets chief says TOKYO, June 2 : The Bank of Japan should lay out a clear path for policy normalisation after a widely expected rate hike this month to stabilise the bond market, Sumitomo Mitsui Financial Group's global markets chief, Arihiro Nagata, told Reuters. The call for clearer guidance from Japan's second-largest banking group comes as the 10-year government bond yield has hit 30-year highs, while the yen has weakened back...

Channel News Asia 8d ago

Japan risks return to stagnation without early rate hike, ex-BOJ policymaker says

Japan risks return to stagnation without early rate hike, ex-BOJ policymaker says TOKYO, June 1 : Japan is on the verge of repeating the policy mishap that led to decades of economic stagnation as Iran war-induced inflation risks forcing the central bank to raise rates aggressively if it doesn't act on time, former Bank of Japan board member Makoto Sakurai said on Monday. The energy shock triggered by the conflict has led policymakers to look at past experiences for a possible solution...

Channel News Asia 9d ago

BOJ expected to raise interest rates in June, sources say

BOJ expected to raise interest rates in June, sources say TOKYO, June 4 : The Bank of Japan is expected to raise interest rates this month unless a sharp escalation in the Middle East conflict upends markets, three sources said, as rising fuel costs from the energy shock add to mounting inflationary pressure in the economy. With hostilities flaring anew in the Iran war, central bank policymakers will scrutinise developments in the Middle East and their fallout on Japan's economy until the...

Channel News Asia 6d ago

Japan May wholesale prices rise 6.3 pct yr/yr

Japan May wholesale prices rise 6.3 pct yr/yr TOKYO, June 10 : Japanese wholesale prices rose 6.3 per cent in the year to May, Bank of Japan data showed on Wednesday. The rise in the corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, compares with the median market forecast for a 5.5 per cent annual increase and follows a 5.3 per cent annual increase in April. Details were as follows (preliminary, with percentage change;...

Channel News Asia 8h ago

Japan's real wages extend gains, consumer spending decline slows in April

Japan's real wages extend gains, consumer spending decline slows in April TOKYO, June 5 : Japan's real wages climbed 1.9 per cent in April from a year earlier, government data showed on Friday, marking a fourth consecutive monthly gain, as higher special payments boosted overall earnings and improved household purchasing power. Here are a few details: • The Bank of Japan, which will next review its interest rates on June 15 and 16, considers steady rises in wages and prices as a prerequisite...

Channel News Asia 5d ago

BOJ set to raise key rate to 1.0% in June, 1.25% by year-end: Reuters poll

BOJ set to raise key rate to 1.0% in June, 1.25% by year-end: Reuters poll TOKYO, June 10 : The Bank of Japan will raise its key interest rate this month and again in the fourth quarter, taking borrowing costs to 1.25 per cent by year-end, as it grows more wary of inflation risks than downside hazards to the economy, a Reuters poll of economists showed. BOJ Governor Kazuo Ueda all but cemented a June rate hike in a speech last week, marking a clear shift in the central bank's narrative...

Channel News Asia 4h ago