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Toru Fujioka

For Toru Fujioka's latest contributions to The Japan Times, see below:

BOJ's 2015 stimulus reluctance spurs debate over tapering

Jun 24, 2015

BOJ's 2015 stimulus reluctance spurs debate over tapering

With its reluctance to add to record monetary stimulus even as inflation remains well below its target, the Bank of Japan has stoked speculation about it scaling back its asset purchases as soon as early 2016. Economists in recent weeks have been re-examining the ...

Kuroda ally says yen's excessive strength now corrected

Jun 4, 2015

Kuroda ally says yen's excessive strength now corrected

The excessive strength in the yen that damaged Japanese manufacturing in recent years has now been corrected, according to an ally of Bank of Japan Gov. Haruhiko Kuroda. “The abnormally strong yen has been corrected,” said Yutaka Harada, who joined the central bank’s Policy ...

May 29, 2015

BOJ inflation gauge slows to zero as oil weighs

The Bank of Japan’s main gauge of inflation slowed to zero, as cheaper oil prices counter Gov. Haruhiko Kuroda’s effort to reflate the economy. Consumer prices excluding fresh food and effects of last year’s consumption tax increase were unchanged in April from a year ...

BOJ refrains from boosting stimulus after growth picks up

May 22, 2015

BOJ refrains from boosting stimulus after growth picks up

The Bank of Japan refrained from increasing monetary stimulus, as Gov. Haruhiko Kuroda bets on stronger growth fueling inflation that is one-tenth the BOJ’s target. The central bank will continue to boost the monetary base at an annual pace of ¥80 trillion, it said ...

Soccer still a refuge for BOJ staff

Apr 15, 2015

Soccer still a refuge for BOJ staff

The Bank of Japan officials huddle: they’re planning a counterattack. It’s half-time, on a balmy Saturday afternoon in October on a soccer field in Machida, western Tokyo, and the central bank’s team has just seen their 1-0 lead vanish with an equalizer by Japan ...

Kuroda ally says weak yen shouldn't stop more stimulus if needed

Feb 20, 2015

Kuroda ally says weak yen shouldn't stop more stimulus if needed

Concern about weakening the yen should not prevent the Bank of Japan from easing monetary policy further if necessary, said Masahiro Kawai, a university professor who has collaborated on research with Gov. Haruhiko Kuroda. “I have no doubt the yen will fall further and ...

Feb 5, 2015

Abe boosts Kuroda reflation effort with BOJ board nomination

The Abe administration has nominated a proponent of reflationary monetary policy for the central bank’s board, buttressing Gov. Haruhiko Kuroda’s effort to end a two-decade slump in the world’s third-biggest economy. The government proposed economist Yutaka Harada to replace Ryuzo Miyao, whose term ends ...

December output gain hints at end to latest recession

Jan 30, 2015

December output gain hints at end to latest recession

Industrial production snapped two quarters of decline in December, signaling the economy may have limped out of recession. Output rose 1.8 percent in the three months through December from the third quarter, the Ministry of Economy, Trade and Industry said Friday. While household spending ...