Oct 28, 2011

BOJ ups asset purchase program by ¥5 trillion

The Bank of Japan on Thursday eased its monetary policy, boosting the size of its asset purchase program by another ¥5 trillion, raising its total funds to ¥55 trillion, citing the current instability in global financial markets and economies, as well as the yen’s ...

Oct 21, 2011

Market braces for EU debt crisis blow

As Europe continues to walk a tightrope over Greece’s bloated debt and a continental sovereign crisis, money men in Japan are advising the public to buckle up before any shock waves reach domestic soil and damage the economy. “The amount of exports from Japan ...

Oct 8, 2011

BOJ board sticks with interest rate policy

The Bank of Japan Policy Board said Friday it will maintain its virtually zero-interest rate policy while putting off additional monetary easing to cope with impact from Europe’s debt crisis and the yen’s sharp rise. As a result of the unanimous agreement reached by ...

Oct 4, 2011

Biz confidence up but small firms lag: 'tankan'

The nation’s large manufacturers are more confident about business conditions but have yet to recover their prequake optimism, the Bank of Japan’s quarterly “tankan” sentiment index said Monday. While midsize and small manufacturers did not share the sense of strong recovery, the sentiment index ...

| Sep 29, 2011

Plenty of problems in tax hike plan

The government and the Democratic Party of Japan have finalized their temporary tax hike plan and will ask the public to cough up ¥11.2 trillion to help reconstruct the disaster-hit Tohoku region, but experts Wednesday were quick to point out flaws in the hastily ...

Sep 28, 2011

Plans to buy rescue bonds eyed: Azumi

The government may purchase additional rescue bonds to be issued by Europe’s bailout fund to help cure the volatile situation triggered by the Greek crisis, Finance Minister Jun Azumi said Tuesday. “If there is any scheme that could help ease tensions worldwide, including financial ...

Sep 22, 2011

Energy imports snuff out export recovery

Exports in August rose for the first time since the March 11 earthquake, up 2.8 percent from a year earlier, but an increase in energy resource imports resulted in a trade deficit of ¥775.3 billion for the month, the Finance Ministry said Wednesday. Despite ...

Sep 21, 2011

Cabinet approves 10% cap on budget requests for '12

The Cabinet on Tuesday approved a plan to cap budget requests for fiscal 2012 and keep total general account spending — excluding debt-servicing costs — to less than ¥71 trillion, while allocating about ¥700 billion for special policy measures to boost economic growth. The ...

Sep 17, 2011

Commission unveils three tax-hike options

The Tax Commission on Friday unveiled three provisional tax hike proposals centered on increasing income and corporate taxes to secure funds for reconstruction from the March 11 disasters. The government’s three proposals are: to increase income, corporate and residential taxes; to hike the income, ...

Discussions on tax hike go into full swing

Sep 14, 2011

Discussions on tax hike go into full swing

Government discussions over a looming tax hike hit full throttle Tuesday as the Democratic Party of Japan’s tax panel kicked off its first meeting to discuss how to gather financial resources to reconstruct the Tohoku region. The panel, led by former Finance Minister Hirohisa ...

| Sep 13, 2011

Despite mounting debt, yen still a safe haven

The yen climbed to and has remained at a historic high since the March 11 earthquake and tsunami disaster. On Aug. 19 it hit a postwar high of 75.95 to the dollar, an event that has led the government to intervene in the foreign ...

Furukawa says he's set to tackle high yen

| Sep 9, 2011

Furukawa says he's set to tackle high yen

Economic and fiscal policy minister Motohisa Furukawa said Thursday he and other economy-related ministers stand united on tackling the yen’s excessive surge, with an eye on both maximizing the merits of a strong currency and helping small and midsize companies suffering from the high ...