News and Reviews Asian Economic Zone

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Yamaguchi: BOJ Stimulus If It Can Increase

Thursday, January 31, 2013

 

Bank of Japan can increase the stimulus-related economic conditions and prices, according to the BOJ deputy governor Hirohide Yamaguchi, while critics argue the impact of the yen BOJ policy. "Maybe we will provide additional accommodation," as BOJ monitor economic developments and price, said Yamaguchi, who will end his term in March, in Nagasaki today. He also said that the central bank's policy did not directly aim to weaken the yen.

 

"This speech shows that the BOJ tried to escape from the growing political pressure by signaling willingness for additional measures," said Hideo Kumano, chief economist at Dai-Ichi Life Research Institute in Tokyo and a former central bank official. "The BOJ will probably need to add stimulus in the coming months."

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

Manufacturing Sector Grew, China Reluctant to Add Stimulus

Friday, February 1, 2013

 

China's manufacturing sector expanded in January, adding to the Chinese government's reluctance to increase stimulus measures amid inflation concerns. Manufacturing sector PMI index rose is at 50.4 in January compared with 50.6 in December, according to the National Bureau of Statistics and the China Federation of Logistics and Purchasing today in Beijing. A separate report from HSBC Holdings Plc and Markit Economics rose to a two-year high at 52.3 from 51.5.

 

The Chinese government free to add stimulus exceeds dipervepan investment project approvals and cut interest rates twice last year, with the input price measure rose to high government I17 months. Data today showed the level of export contracts, underscoring concerns about the strength of global demand.

[mynameisandhy]

News and Economic Review Zone Asia (Indonesia)

 

Survey: Indonesia Annual GDP Grew 6.20% in Q4

Monday, February 4, 2013

 

Indonesia's economy is expected to remain healthy in the fourth quarter of 2012 due to the level of a strong domestic consumption and investment flows were solid.

 

Official data of gross domestic product (GDP) Indonesia the fourth quarter will be released on Tuesday (05/02) tomorrow. But the 13 economists surveyed by Dow Jones Newswires believe the GDP annual growth rate will reach 6.20%, an increase compared to the previous quarter note at 6.17%. As for the projected full year 2012, the median forecast of economists appears in figure 6:29%. If true, the GDP growth rate will be lower than the record in 2011 which reached 6.50%.

 

 

"We expect the fourth quarter GDP does not vary much with the recent trend of growth in Indonesia. Factors still dominate the domestic consumption growth is accompanied by a flow of consistent double-digit investment or the best since the financial crisis, 2008," said OCBC economist, Gundy Cahyadi as reported by Dow Jones.

 

 

Healthy economic growth would give room for the central bank to continue improvements in Indonesia's current account deficit. Bank Indonesia also required to control the potential for rising inflation as a consequence of economic acceleration.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Japan Finance Minister: Appreciation of Yen Still Be Priority

Monday, February 4, 2013

 

Japan's finance minister on Monday said that ending the long-term uptrend movement Yen remains a government priority, given the weakening currency recently Japanese leaders not satisfactory.

 

"The most important task now is to overcome the Cabinet strengthening yen and persistent deflation, expand employment and incomes, and lift the Japanese economy back in shape," said Finance Minister Taro Aso in a budget speech in parliament.

 

Yen himself has weakened about 10% against the U.S. dollar since the national elections held in December. And Aso statement indicates if the government remains determined to maintain measures that support a rise in inflation and depress the value of yen lower to rescue Japanese exporters.

 

Taro Aso also called on the opposition parties to immediately approve a supplementary budget worth ¥ 13.1 trillion to help develop the economy of Japan.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Japan PM: No Potential Hyperinflation

Tuesday, February 5, 2013

 

Japan's prime minister has repeatedly asked the central bank to change its inflation target to 2% in the name of economic progress. But many worry that the policy actually brings new problems.

 

In his speech to parliament, Shinzo Abe stated that assuming rising inflation target leads to hyperinflation is unreasonable. "Unfortunately when people are worried about the potential for hyperinflation, but there is no indication," said Abe. He assured MPs that during the government was able to build a solid fiscal framework, the threat will not be visible.

 

At the same time, Abe denied the allegations of the opposition to his camp. Anti-government officials assess Abe and colleagues tried to destabilize central bank independence through threats targeting 2%. The series of meetings designed by the government is considered as an intervention against the authority of the monetary authority. Abe denies this opinion while convincing the public that ultimately target inflation adjustment was in the hands of the Bank of Japan.

 

Shinzo Abe criticized those who argued that he had just spent the budget without producing anything meaningful. "My economic policies will eventually create growth in the private sector in the medium and long term," Abe replied confidently.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

Chinese Authorities Prepare GDP Target A More Realistic

Wednesday, February 6, 2013

 

The figure of 31 local governments in China for 2013 indicate that this year's figures for GDP growth is still the same or lower than last year's target, though still above the target of 10%.

 

31 local governments, including the territory ruled directly by the central government (Beijing, Tianjin, Shanghai, and Chongqing), 5 autonomous regions and 22 provinces.

 

7 of them have a target below 10%. They are Beijing, Shanghai, Shandong, Guangdong, Zhejiang, Hebei and Liaoning. 24 Other government has a target of 2 digits.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

BOJ officials: 2% Inflation Target is a challenge

Wednesday, February 6, 2013

 

A Bank of Japan Policy Board, Takehiro Sato, today said that it will implement monetary easing with new motivation to achieve the inflation target of 2%. "It's hard to imagine the target (price stability) 2% could be achieved with a normal monetary policy," Sato said in a speech at a business forum, Maebashi, Tokyo. Therefore, he urged the government and the central bank have the same spirit to achieve that goal.

 

Takehiro Sato is known as someone who is pro-easing monetary and always want domestic economic stimulus. According to him, the variable exchange rate is one component that can help accelerate the creation of the government's economic and price stability. But he acknowledged that the achievement of the inflation target over the weakening yen is not as easy as people think. Given the process must be accompanied by negotiations and diplomacy with other countries affected by the exchange rate mechanism.

 

Sato surprisingly had opposed the discourse of 2% inflation targeting central bank at a meeting two weeks ago. Together with Takahide Kuichi, he thought the target was not realistic to be implemented at this time. He even claimed the governor Masaaki Shirakawa was not independent due to pressure Prime Minister Shinzo Abe and his cabinet. But after studying the trend of earnings of Japanese citizens Recently, Sato began to see a new target-setting as a discourse that 'challenging'.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Japanese Vice Minister of Finance: Our Main Target Preventing Deflation

Thursday, February 7, 2013

 

Japan's vice finance minister speaking today at a seminar held by the International Monetary Fund (IMF). In a statement, Takehiko Nakao said that the main purpose of this ministry is to stop deflation now. The whole range is government ready to carry out the mandate of the achievement of the inflation target of 2% was requested by Prime Minister Shinzo Abe.

 

"So far all goes according to plan policy," he said when the review about the rise in stock prices and a decline in the exchange rate of yen. Nakao also highlighted climate long-term interest rates are still very low. Deflation during the last two decades has triggered acute damage in the Japanese economic system, especially regarding price reductions and income residents. Investment flows are also reduced, in line with the lack of household consumption.

 

According to Nakao, interest rates can not be lowered again and the sales figures could continue to fall in the middle of deflation climate. If so, then the government's increasingly difficult to pay its debt load. "Japan has experienced sustained deflation over the past two decades, and it's very damaging," he said. Nakao assess the real interest rate is very high when compared to the ideal level should be. Society tends to reduce consumption in the climate of deflation in the hope prices become cheaper. Even so, Nakao see any risk if governments rely on cheap credit and fiscal stimulus. "We have to look at the fiscal performance if you do not want to lose credibility," Nakao lid.

[mynameisandhy]

News and Economic Review Zone Asia (China)

 

China Inflation Rate Based Estimation

Friday, February 8, 2013

 

China Producer price index fell 1.6% for the period from January of last year, compared with a decrease of 1.9% for the month of December, according to the statistics bureau reported today (08/02). The figure is in line with the estimate of 14 economists surveyed by Dow Jones Newswires. PPI rose 0.2% in January from December. In December the figure fell 0.1% from the previous month.

 

While China Consumer price index released simultaneously showed an increase of 2.0% in January from a year ago, the figure was below the estimated increase of 2.5% in December. The increase is in line with the estimate of 14 economists by 2.0%. CPI also rose 1.0% in January from December. In December, the figure rose 0.8% from the previous month.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

PM Japan: BOJ Governor's New Must Dare!

Monday, February 11, 2013

 

Prime Minister Shinzo Abe today addressed the Japanese parliamentary committee. The essence of face-to-face between the heads of government legislators concerning leadership succession at the Bank of Japan (BOJ).

 

Central bank Governor Masaaki Shirakawa earlier this week declared ready to resign on March 19, followed by two deputy governors. Therefore, Prime Minister Abe must submit the names of potential to fill the seat left Shirakawa told parliament within a month. Related about the desired criteria, Shinzo Abe declared no matter where a candidate comes institutions. There is a possibility that a new governor later emerged from the finance ministry or government official.

 

"The new governor should be able to get into the circle system called 'international financial mafia'," he said. That way, he can maintain extensive communication and cooperation with other parties in the national interest.

 

However, regardless of any figure chosen later, Abe stressed the need for courage to take aggressive monetary easing and international communication skills are qualified. Two of the most absolute terms that must be owned by the successor Shirakawa. "By accelerating the Japanese economy, monetary easing is not negotiable," said the prime minister. Even so, Abe did not comment further if the condition as something that is not owned by the current BOJ governor.

[mynameisandhy]

News and Economic Review Zone Asia (North Korea)

 

North Korea Nuclear Test, Threat World Stability

Tuesday, February 12, 2013

 

North Korea today staged a nuclear test that the explosion more powerful than either the 2006 and 2009 years. Pyongyang's actions drew criticism from various parties, especially the United States (U.S.) and Japan.

 

North Korea Parties recognize the scale of the use of uranium today is greater than the previous trials. Shock effects of nuclear weapons that even resembles an earthquake in some areas. There are indications the use of plutonium, a substance which is known as the most suitable material for weapons of mass destruction, the North Korean military.

 

Parties Washington condemned North Korea's nuclear policy over the president's official statement today. "Their actions are very provocative and international komunita must take decisive action," said Barack Obama. The statement was in line with the criticism leveled by the Prime Minister of Japan, Shinzo Abe, shortly after the nuclear test news reached her ears. "Nuclear test is a real threat that can not be tolerated," he said.

 

As the only ally of North Korea, China also subtly ask colleagues in Pyongyang to show restraint. Beijing insists anti-nuclear stance to the international community and not behind the North Korean government. "We've called on North Korea to honor its commitments and not doing actions that could worsen the situation," read an official statement the government of China. In spite of this criticism, the Chinese government has been shamed for failing to 'tame' military aggression colleagues. North Korean television station even proudly announced the successful launch of a nuclear weapon high explosive warhead that while accompanied by patriotic songs.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Japan Finance Minister: Attempting to Manipulate the Tokyo Foreign Exchange Yen

Tuesday, February 12, 2013

 

Japanese Finance Minister catapult praise for recent statement states the group G7, which judged understand that Tokyo was not trying to manipulate the exchange rate to benefit exporters Japanese Yen.

 

"There are some opinions that consider if our measures to combat deflation caused economic aim to influence the exchange rate," said Taro Aso told reporters on Tuesday. "But that's not what actually happened., And the whole country joined in the G7 has completely understand, as reflected in their final statement."

 

"Japan, which has a central bank and a stable government must immediately make a clear statement at a time like this, or it will be a source of instability in the aspects of economic and monetary policy. We want to avoid it and have to do our role," Aso added at the end of the interview .

[mynameisandhy]

News and Economic Review Zone Asia (South Korea)

 

BOK estimated Hold Interest Rates

Wednesday, February 13, 2013

 

Bank of Korea or the BOK is expected to hold interest rates for the fourth consecutive month, but many analysts expect that the central bank will be to cut interest rates at the end of the second quarter to push the slow rate of growth.

 

About 11 of the 16 analysts surveyed by Dow Jones, BOK is likely to hold interest rates at 2.75% rate, while 5 analysts expect further cuts by 25 bps.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

BOJ Governor: Weakening Exchange Not Intentional

Thursday, February 14, 2013

 

Amid suspicions of many countries of the monetary policy, the Governor of the Bank of Japan (BOJ) spoke again. In a press conference after the meeting of the authority today, Masaaki Shirakawa reiterated that it does not deliberately undermine the Yen exchange rate. Shirakawa attitude was ejected following a justification of political observers and officials of other countries who rate depreciation due Yen planned.

 

"Our goal is not that, but rather the prevention of short-term deflation and creating a climate of economic growth and sustainable prices," said Shirakawa in the presence of media crews. He said the central bank has a policy of every individual who has been to the national target. BOJ Governor will convince the international community that the measures taken solely to the economic interests of Japan. Therefore, Shirakawa will speak on the upcoming G20 meeting, in order to make one other state officials related to the measures taken their country.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

BoJ Governor Election To Be Held

Friday, February 15, 2013

 

Time BoJ governor elections will be conducted in the near future, and according to an article from the Wall Streey Journal, the Japanese prime minister, Shinzo Abe and the Japanese finance minister, Taro Aso, has selected two strong candidates.

 

The two candidates will get strong support was Toshiro Mito and Kazumasa Iwata. The third candidate is rumored to Haruhiko Kuroda, head of the Asian Development Bank, though he refused to participate on speculation a plan to occupy the leadership of the BoJ.

 

Who will be the head of the BoJ will still uncertain, but the market still believes that the Yen getting moved up and down depending on who will lead the new monetary policy in Japan.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

BoJ Just Want to End Deflation

Monday, February 18, 2013

 

Prime Minister Shinzo Abe, said the BoJ monetary policy is not intended to weaken the yen despite being one of the factors that affect the exchange rate. Abe stressed will not interfere in the policies to be pursued in order to achieve the central bank's inflation target of 2% while foreign purchases of government bonds uttered just a policy option.

 

Abe reiterated monetary easing policies pursued by the BoJ aims to end deflation and not weaken the yen. Abe is a response to the criticism from some G-20 countries who accuse Japan intends to weaken the yen. "I'm not going to comment on a fair exchange for the exchange rate. But, I established that our policy does not aim to weaken the yen. There are many factors that affect exchange rates and monetary policy is only one factor alone," said Abe told the Japanese parliament.

 

Meanwhile, the yen weakened in the London session. USD / JPY is now trading 94.02; away from the daily low of 93.68

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Without Japanese Yen Exchange Rate Target for

Monday, February 18, 2013

 

Japan does not have a target for the exchange rate of the yen, Japan's finance minister said, Taro Aso, Japanese yen weakened, stressed that currently does not have any effect - which is the policy stimulus.

 

Speaking to reporters at the relevant meeting of G20 leaders in Moscow, said that while there was talk Asoa a currency war of some fellow international officials, the majority of them felt that the move was excessive.

 

Aso explained to the officials at the G20 that fiscal spending and policy easing by the BoJ and the new inflation target of 2% rate aimed to boost the Japanese economy after a long deflation in Japan.

 

Meanwhile, Japan's stimulus policies expire on weakening the Japanese yen, it is not the main goal.

 

"Our target is to get out of recession and inflation. That is our main target, "Aso said.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

BoJ Governor Candidate Nomination Will Soon Do

Tuesday, February 19 201

 

Japan's economy minister, Akira Amari said Tuesday that his government would announce the nomination for governor and vice governor of the BoJ after Prime Minister Shinzo Abe returned from a trip to the U.S. on February 21 to 24.

 

"After Prime Minister Shinzo Abe back, we will try to make a deal with opposition parties this month," Amari said at a news conference at a meeting of the cabinet.

 

The source told Reuters that a senior finance bureaucrat, Toshiro Muto will be an important candidate to be the next central bank governor, Masaaki Shirakawa replace.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

BOJ Council Urges Government To Fix Fiscal

Wednesday, February 20, 2013

 

A senior official of the Bank of Japan policymakers on Wednesday urged the government to improve the financial situation is fragile and enhance any existing potential for growth, as the starting signs of a new rift between the central bank and the government on how they should work to achieve new inflation target at 2% level.

 

Currently pereknomian Japan is determined to get out of the period of stagnation which has been running for the past two decades, Prime Minister Shinzo Abe continued to pressure the BOJ to bertidak more daring, he insisted that only monetary easing alone can bring the desired rate of inflation if done aggressively.

 

But the members of the BOJ has stated that it does not need to happen, and Yoshihisa Morimoto, which is one of the nine members of the central bank policy makers, a new officer who has made a plea for more action from the government.

 

"The Bank of Japan will overcome this problem with a strong monetary easing, including the purchase of government bonds on a large scale," said Morimoto to businesses in the city of Kochi in Shikoku, Japan.

[mynameisandhy]

News and Economic Review Zone Asia (South Korea)

 

BOK: Today We Need Not Cut Interest Rates

Thursday, February 14, 2013

 

Bank of Korea Governor Kim Choong Soo said that the improving global outlook raises the possibility that South Korea's economy will exceed the estimated growth this year, signaling that further monetary easing is not needed at this time.

 

Country with the fourth largest economy in Asia is likely to achieve growth of 2.8%, said Kim in an interview in Seoul yesterday. "My bet is that there will be more increases than the downturn in the economy," said Kim. He added that domestic liquidity is "abundant".

 

The won rose and yields on government bonds 3-year tenor rose from lows yesterday as comments from Kim dampen investor expectations that policy makers cut interest rates. Economists halve the outlook for borrowing costs, with Barclays Plc expect no interest rate cuts this year, while Goldman Sachs Group Inc.. said that in his research catataan on February 12 that they expect further decline in interest rates in April.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Japan Finance Minister: BOJ Chief Subsequently Should Not from the Ministry of Finance

Friday, February 22, 2013

 

Japanese Finance Minister Taro Aso said that the next governor for the Bank of Japan did not have a person who belongs to the finance minister, he said that after opposition parties said they would not support such a candidate.

 

"They should not be from the Ministry of Finance for close communication is maintained," said Aso told reporters in Tokyo today. He asserted that the candidates should have the good foreign language skills and experience in managing large organizations.

 

The investors were BOJ committed to easing further to achieve the 2% inflation target as Prime Minister Shinzo Abe is preparing a nomination for a new central bank chairman for the next week. The choice must be approved by the upper house of parliament, where the Liberal Democratic Party does not have a majority, giving power to the opposition parties to determine the candidates for the next BOJ chief.

[John1]

Asian shares edge higher, yen falls on Bank of Japan report

 

By Chikako Mogi

TOKYO | Sun Feb 24, 2013 9:30pm EST

(Reuters) - Asian shares edged higher on Monday, with investors still picking up shares battered by last week's steep plunge, while the yen fell to fresh lows on news a reflationary advocate could head the Bank of Japan next month.

 

The news Japan's government is likely to nominate Asian Development Bank President Haruhiko Kuroda, an advocate of aggressive monetary easing, as its next central bank governor, is set to be a major factor in financial markets this week.

 

Markets are pondering whether Italy's weekend elections will produce a stable government, and the implications of that for euro zone cohesion, while Moody's credit downgrade on Britain will play on confidence in the pound and government bonds.

 

Investors also await testimony on Tuesday from Fed Chairman Ben Bernanke for further clues of when the Fed may slow or stop buying bonds. Financial markets were rattled last week after minutes of the Fed's January meeting suggested some Fed officials were mulling scaling back its strong monetary stimulus earlier than expected.

 

The MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.1 percent, pulled higher by Australian shares .AXJO which gained 0.6 percent on reassuring comments from U.S. Federal Reserve officials on the bank's current stimulus program, which has helped underpin risk sentiment globally.

 

South Korean shares .KS11 opened up 0.2 percent, with the nation's new leader, who has shown willingness to talk down the won, being sworn in on Monday.

 

Tokyo's Nikkei stock average .N225 opened 1.6 percent higher. .T

 

Early on Monday, the yen touched its lowest since May 2010 of 94.61 yen against the dollar, while the euro rose to a high of 124.83 yen, still off its 34-month peak of 127.71 set early this month.

 

The Nikkei newspaper reported the Japanese government is likely to nominate Haruhiko Kuroda and Kikuo Iwata, both vocal advocates of aggressive monetary expansion, as BOJ governor and deputy governor.

 

The dollar fell sharply to below 93 yen last week on media reports that Toshiro Muto, a former financial bureaucrat perceived as less willing to take unconventional steps, was the frontrunner candidate for the top BOJ job.

 

"The dollar's move this morning is merely a rebound from disappointment on Muto last week. I don't think this topic will be enough to hoist the dollar above 95 yen," said Hiroshi Maeba, head of FX trading Japan at UBS in Tokyo. "No matter who is elected at the BOJ, it will not affect the longer-term trend of a weak yen," he said.

 

Speculation over the BOJ has been a key factor driving the yen lower recently due to anticipation for strong reflationary measures, but other fundamental factors such as Japan's deteriorating trade balances and signs of firmer U.S. growth also supported a weakening yen trend.

 

Abe told Americans on Friday "I am back and so is Japan" and vowed to get the world's third biggest economy growing again.

 

Investors remained cautious before the full official results of Italy's elections come out on Tuesday, worried a potential political stalemate could impede Rome's progress on fiscal reforms.

 

The euro was up 0.1 percent to $1.3192, off Friday's six-week low of $1.31445.

 

Sterling fell to a 31-month low of $1.5073 early on Monday and a record low against the New Zealand dollar at NZ$1.8025 following Friday's one-notch downgrade of Britain's prized triple-A sovereign rating by Moody's.

 

Investors will also seek signs of recovery from the flash estimate of China's manufacturing PMI from HSBC/Markit due later in the session.

 

Wall Street ended higher on Friday, boosted strong earnings from Dow component Hewlett-Packard (HPQ.N), but the benchmark Standard & Poor's Index .SPX posted its first weekly decline of the year. European shares rose on Friday after data showed German business morale surged at its fastest pace in over two years in February.

 

Hedge funds and other big speculators cut their bullish bets on U.S. commodities by nearly $13 billion, the most in about 10 months, in the week to February 19 to $69 billion, just before oil and metals prices tumbled last week on rumors a commodities fund was dumping positions, trade data showed on Friday.

 

U.S. crude was up 0.1 percent to $93.26 a barrel.

 

(Editing by Eric Meijer)

 

http://www.reuters.com/article/2013/02/25/us-markets-global-idUSBRE88901C20130225

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

ADB President will Occupy Top Chair Bank of Japan?

Monday, February 25, 2013

 

Puzzle about who Masaaki Shirakawa successor as head of the Bank of Japan is fulfilled. At least that's the conclusion that floated by Japanese media and the press earlier this week.

 

Although there has been no announcement of any kind from the government, media and overseas Japanese Prime Minister Shinzo Abe called will file name Haruhiko Kuroda as the leading candidate governor of the Bank of Japan. President of the Asian Development Bank is an excellent policy expert pro-growth track record and have qualified in the field of international finance. More than that, the mindset is even considered as a reflection of the ideals Abe will change in Japanese monetary map towards the better.

 

Commitment Shinzo Abe in the prime minister last year's campaign focused on fiscal and monetary policy aggressively, including the termination phase of deflation. He is willing to take radical measures to rescue the Japanese economy being stagnant. Yen respond to the weakening of the government's policy transition reached 21% against the dollar since October 2012, as well as boost the stock index to a higher level. Japan's currency weakened against major even-Asian currencies and the euro, triggering criticism that the depreciation was intentionally done by Tokyo to enhance the competitiveness of Japanese exports abroad.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

Amari: No Comment How Being Yen

Tuesday, February 26, 2013

 

Japan's economy minister, Akira Amari said Tuesday that he has no relevant comment on the level of how the government will assume Yen was in the right position.

 

Amari menjawwab questions of journalists about the rising yen related sudden concern about the election deadlock Italy.

[mynameisandhy]

News and Economic Review Zone Asia (Japan)

 

The Japanese government economy Projection Upgrade

Wednesday, February 27, 2013

 

The Japanese government raised its domestic economy for the second month in a row in February. Tokyo judging that the economy is rising thanks to the improved performance of exports and household consumption. The weakening of the exchange rate of the yen and rising stock indexes contributed to the process of economic development in the country.

 

In a monthly report released today, the government acknowledged that the economy is in a mild deflationary phase. However, in some sectors, including industrial production and business confidence, an aura of progress began. "The Japanese economy is gradually improving despite the slowdown still occurs in some sectors," the report said. The weakening economy will still happen passion but an indication of improvement will be seen one by one thanks to the support of improved confidence, export conditions and the effects of the government's monetary policy package. For the first time since January and February 2011, when the earthquake and tsunami melanja Japan, the government's assessment report had upgraded twice.

 

Tokyo optimism grew stronger amid rumors of the emergence of the name of the Head of the Asian Development Bank, Haruhiko Kuroda, as a candidate for Governor of the Bank of Japan. Market participants expect the BOJ's new leadership can promote new monetary easing could stop the deflationary climate of long standing. Prime Minister Shinzo Abe has also asked the BOJ to be more aggressive in its efforts to raise consumer prices.