BOJ discussed need for preemptive response to risks: July minutes

Reuters Finance 1 month ago

TOKYO (Reuters) - Bank of Japan policymakers discussed the need for the central bank to take a preemptive response to downside risks to the economy and prices, minutes of the central bank’s July 29-30 meeting showed on Wednesday.

One member was quoted as saying that “there was a growing risk that the strengthening of the monetary easing stance by central banks in the United States and Europe would exert downward pressure on Japan’s prices, mainly through foreign exchange rates. It was necessary to make a preventive and preemptive policy response to downside risks to prices.”

The BOJ left monetary policy steady at the July meeting but pledged to ease without hesitation to preempt risks that could hurt the chance of hitting its 2% inflation target.

At its subsequent policy review last week, the central bank stood pat but signaled the chance of expanding stimulus as early as its next policy meeting in October by issuing a stronger warning against overseas risks.


Source link
Read also:
Reuters › Finance › 1 month ago
Bank of Japan board member Yukitoshi Funo on Thursday warned against heightening downside risks from a persistent slowdown in the global economy, signaling the bank's readiness to respond to prevent risks from materialising.
Reuters › Finance › 2 weeks ago
Bank of Japan board members debated the feasibility of ramping up stimulus at their September rate review, with some calling for the need to start brainstorming ideas to top up monetary support, minutes of the meeting showed on Wednesday.
CNBC › 0 month ago
PG&E's preemptive outages have come under deep criticism by those who argue that the blackouts threaten lives and local response efforts to fire emergencies.
New York Daily News › 0 month ago
The latest preemptive power outage, a response to gusting California winds, is expected to touch about 180,00 customers in 17 counties, PG&E said. The blackout began Wednesday afternoon.
Reuters › Finance › 1 month ago
The Bank of Japan (BOJ) needs to be careful when deciding whether to deepen negative rates, the head of Mizuho Bank said, adding the contentious issue of charging account maintenance fees should be seen as separate from monetary policy.
Reuters › Finance › 1 month ago
A Bank of Japan board member said on Wednesday the central bank would ease policy further without hesitation if momentum for hitting its 2% inflation target was lost, adding that she was concerned about mounting risks from overseas economies.
Reuters › Finance › 1 month ago
Bank of Japan Governor Haruhiko Kuroda said on Thursday that he would guide monetary policy appropriately without any preset conditions in mind, while warning against heightening risks from the global economy and the Chinese-U.S. trade war.
Reuters › Finance › 1 month ago
Bank of Japan Deputy Governor Masayoshi Amamiya said on Friday that the central bank must "patiently continue" its powerful monetary stimulus to maintain momentum toward achieving 2% inflation, as downside risks from overseas economies mount.
Reuters › 2 months ago
British Prime Minister Boris Johnson and U.S. President Donald Trump condemned last weekend's attack on Saudi Arabian oil facilities and discussed the need for a united diplomatic response in a telephone call on Wednesday, Johnson's office said.
One America News Network › Finance › 2 weeks ago
TOKYO (Reuters) - Bank of Japan board members debated the feasibility of ramping up stimulus at their September rate review, with some calling for the need to start brainstorming ideas to top up
Sign In

Sign in to follow sources and tags you love, and get personalized stories.

Continue with Google
OR