Governor Kuroda's reappointment in April will signal a new commitment to the Bank of Japan
's zero yield policy, which necessitates yen depreciation.
-- Bank of Japan
Governor Haruhiko Kuroda to hold press conference.
In June 1997, a newly revised Bank of Japan
Act made the Bank independent of the Japanese government.
If the Bank of Japan
said it had a 3 percent inflation target, market participants would ask: 'Tell me how we're going to get to 3 percent inflation?' It would be very hard for the Bank of Japan
to give a credible answer."
"The Bank of Japan
aims at putting Japan's economy back on a sustainable growth path by firmly maintaining the quantitative easing policy based on clear and concrete commitment with reference to the consumer price index," Fukui said.
"The Industrial Bank of Japan
is committed to supporting Common Ground and other community based organizations who address the issue of homelessness and the need for creative housing solutions," commented Shoji Noguchi, Managing Director of The Industrial Bank of Japan
, Limited and Chairman of The Industrial Bank of Japan
The yield on the latest issue of five-year interest-bearing bank debentures, with which the prime rate is linked, is now about 0.1 point lower than a month earlier because of expectations the Bank of Japan
will continue to supply ample funds to the money market in its bid to underpin the economy.
announced a joint venture with Long-Term Credit Bank of Japan
to enter the retail securities market.
Bank of Japan
has said that it is to continue easing measures for some time to come.
The head of Bank of Japan
, Haruhiko Kuroda, has said that policy exit by the central bank could also lead to a fall in revenues.
In New York, yen-selling was spurred by speculation of further monetary easing by the Bank of Japan
Global Banking News-April 28, 2011--Central bank of Japan
cuts growth forecast(C)2011 ENPublishing - http://www.enpublishing.co.uk