Japan’s Nikkei Jumps Above 13,000 on BOJ Stimulus
(BANGKOK) — Japan’s benchmark stock index surged above 13,000 for the first time in more than four years Friday, a day after the country’s central bank announced aggressive action to lift the economy out of an extended slump. The Bank of Japan unveiled plans Thursday to pump huge amounts of money into the financial system in order to spur spending and borrowing in an economy that has suffered from growth-crippling deflation for years. The central bank’s announcement dragged down the yen, giving a boost to shares of Japan’s powerhouse manufacturers. A cheaper currency makes Japanese goods less costly for Americans and other foreigners and raises the value of repatriated profits. The Nikkei 225 in Tokyo soared 3.8 percent to 13,109.58, its highest level since August 2008. The dollar rose to 97.06 yen from 96.13 yen late Thursday. The dollar was at about 92.80 before the BOJ’s two-day policy meeting ended with its dramatic announcements Thursday. (MORE: Japan Central Bank Revamps ...
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BOJ's Kuroda: need financial sector support for monetary policy to work
TOKYO - Bank of Japan Governor Haruhiko Kuroda said on Monday the financial sector's support of corporate and household activity is necessary for monetary policy to lead to higher economic growth.
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Reuters
U.S. Says It Is Monitoring Japan on Yen Policies
The U.S. said it is monitoring Japanese policies that have pushed down the yen and that it would press Tokyo to refrain from engaging in a competitive devaluation.
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BOJ's new stimulus measures to boost Nikkei more, drag yen: Reuters poll
TOKYO - The Bank of Japan's massive stimulus to pull the economy out of two decades of malaise has altered the outlook for Japanese assets, according to a Reuters snap poll of analysts conducted after the central bank shocked markets with its radical shift in policy.
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Found 1 month ago on channel
Reuters
Japan PM Abe aide: BOJ has further easing options
TOKYO - The Bank of Japan still has options at its disposal to ease monetary policy further if needed, including boosting purchases of government bonds, exchange-traded funds and real-estate trust funds, a key economic adviser to Prime Minister Shinzo Abe said on Tuesday.
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Found 1 month ago on channel
Reuters