News list for "The central bank"
Prices of most Japanese government bonds fell in early trading on the prospect of further interest rate rises by the Bank of Japan. Household spending rose 2.7 per cent in real terms in December from a year earlier, beating consensus expectations, according to economic data released this morning. The figures are likely to add to the case for another rate rise by the Bank of Japan. Naoki Tamura, a hawkish member of the central bank's policy committee, on Thursday called for a possible quicker pac...
Most economists surveyed expect the Bank of Japan's next rate hike to be in July, but 45% also said the BoJ could act as early as April. Click to view...
The Bank of Japan is widely expected to raise its base rate to 0.5 per cent on Friday, with the 25 basis point increase the largest since February 2007, adding to signs that Japan's economy is finally returning to normal. Two key points that Bank of Japan Governor Kazuo Ueda made clear last month when considering a rate hike have been largely clear. So far, the country's wages have risen...
According to the Nikkei Shimbun, the vast majority of Bank of Japan board members are expected to support a rate hike next week.
On January 4th, the 2025 People's Bank of China Work Conference was held from January 3rd to 4th. The meeting pointed out that in 2024, the People's Bank of China will take Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as the guide, resolutely implement the decisions and arrangements of the Party Central Committee and the State Council, effectively perform macro-control and financial management responsibilities, increase counter-cyclical adjustment efforts, improve p...
The yen weakened against most other G10 and Asian currencies in morning trading on the prospect of a slow rate hike by the Bank of Japan in 2025. Market participants have pushed back expectations for the next rate hike by the Bank of Japan until March, Lloyd Chan, an analyst at MUFG, said in a research note. The senior FX analyst said they had expected the Bank of Japan to raise rates in December 2024 or January 2025. Meanwhile, the long-term US national...
The Russian central bank recently shared its business model for a central bank digital currency (CBDC). All digital ruble transactions will be free by the end of 2025, with the first banks and merchants expected to go live on July 1. The central bank plans to earn fees by operating the system. At the same time, at a hearing in the Russian State Duma last week, the Association of Russian Banks (ABR) said that banks are unhappy with this. They are concerned about the possible outflow of bank depos...
The Central Bank of the Philippines (BSP) said recently that it has completed a proof-of-concept trial of its Agila Project Wholesale Central Bank Digital Currency (wCBDC) with other Financial Institution Groups. Specifically, the latest trial tested whether banks in the Philippines can make payments to each other outside banking hours such as evenings, weekends, and holidays. BSP Governor Eli M. Remolona, Jr., said: "Wholesale CBDCs have the potential to enhance liquidity management, reduce set...
Once the central bank has established that inflation is on track to reach its 2 per cent target over the medium term, monetary policy decisions at some point in the future will need to be "driven by impending risks rather than looking backwards".
The Russian Central Bank has announced that First Deputy Governor Olga Skorobogatova will step down on December 2. She worked in the private sector until joining the central bank in 2014. Skorobogatova is responsible for overseeing the national payment system, IT and financial technology, including the digital ruble central bank digital currency (CBDC). Her position will be replaced by Zulfiya Kakhrumanova, the central bank's director of IT. First Deputy Governor Dmitry Tulin will be responsible...
Seiji Anda, a board member of the Bank of Japan, said that there is no specific monthly consideration for when the Bank of Japan will raise interest rates again. At the same time, our rate hikes so far have had the desired effect, but we must avoid pushing Japan back into deflation by raising rates too early. (Jin Ten)
The Chief Executive of the Hong Kong Special Administrative Region, Li Jiachao, said that the government will continue to promote the central bank's policy stance and guidelines on the application of artificial intelligence in innovative financial services such as digital currency, mobile payment, virtual banking, virtual insurance, and virtual asset trading. Measures include, First, to promote the application of cross-border transfer of central bank digital currency, the Hong Kong Monetary Auth...
"There is almost no chance that the BoJ will raise rates on October 31, and if they raise rates every time, it will give the impression of raising rates every three months," said a former BoJ governor. (Jin Ten)
On September 25th, CICC commented on the policy announced at the press conference held by the State Council Information Office on September 24th. The comprehensive interest rate cut will reduce the interest payment burden on the real economy by about 690 billion yuan (annualized), and the annual interest payment burden may be reduced by 1.30 trillion yuan (annualized, about 1% of GDP). The rate cut not only meets the needs of current credit expansion and existing fiscal strength, but may be used...
Moody's Analytics said in a note that it expected the Bank of Japan to hold its ground at its September 19 and 20 monetary policy meeting. Although the Bank of Japan has tightened policy faster than expected and hinted at the possibility of further rate hikes, Moody's expects the next rate hike to come in October. Japan's economy is struggling to escape the gloom because of weak consumer spending and exports, the report said. "Inflation will rise sharply in the near term as the government reduce...
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