Business Topics

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Yellen rejects radical overhaul of Fed's policy tools

For all the talk of a radical shift in central banking policy, from the permanent use of negative rates to printing “helicopter money,” Federal Reserve Chair Janet Yellen appears to believe she can tackle any downturn using the tools currently at her disposal. Speaking in Jackson Hole, Wyoming, on Friday ...

As Abenomics loses shine, Japan's shoppers seek bargains

Aug 25, 2016

As Abenomics loses shine, Japan's shoppers seek bargains

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Three years of Abenomics, Prime Minister Shinzo Abe’s bold stimulus program, has failed to dislodge a deflationary mindset among businesses and consumers. As the world’s third-largest economy falters again — with a stronger yen gnawing at overseas profits and domestic consumption sapping companies’ confidence ...

Aug 24, 2016

Extra budget to push year's outlays over ¥100 trillion

The Cabinet approved Wednesday a draft second extra budget for fiscal 2016 to stimulate the flagging economy, bringing total public outlays for the year through March to over ¥100 trillion. The extra budget reflects Prime Minister Shinzo Abe’s push to lift the world’s third-biggest ...

Aug 23, 2016

Government to seek ¥4.1 trillion second extra budget

The government plans to set its second supplementary budget for fiscal 2016 at ¥4.114 trillion on a general-account basis, informed sources said. The extra budget will finance a ¥28.1-trillion stimulus package compiled earlier this month. Including an extra budget for a special account for ...

Aug 19, 2016

Japan manufacturers' mood at lowest since 2013: poll

Japanese manufacturers’ mood soured in August to its lowest since 2013, when the central bank embarked on aggressive monetary easing, a poll has shown, reflecting the pain caused by a rising yen and highlighting the huge task facing policymakers to generate growth. The Reuters ...

Aug 18, 2016

Japanese exports dive 14 percent on strong yen

Japan posted a trade surplus of ¥513.5 billion in July, though exports sank 14 percent from a year earlier as the yen surged against the dollar, the government reported Thursday. The fall in exports by the world’s third-largest economy was outpaced by a nearly ...

Ex-BOJ exec urges focusing stimulus efforts on wages not bonds

Aug 18, 2016

Ex-BOJ exec urges focusing stimulus efforts on wages not bonds

The Bank of Japan should stop its record bond purchases because the policy has failed to spur consumer prices and instead focus with the government on a wage target, according to a former central banker. While BOJ Gov. Haruhiko Kuroda’s asset purchases and negative ...

Aug 15, 2016

China drafting growth initiative for G-20 summit next month

China will propose a joint initiative to revive weak global growth at next month’s meeting of leaders of Group of 20 major economies amid rising protectionist sentiment in the United States and Europe, officials said Monday. Speaking at a news conference, a senior Chinese ...