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Toru Fujioka
For Toru Fujioka's latest contributions to The Japan Times, see below:
Japan Times
BUSINESS / Economy / FOCUS
Jun 5, 2023
Rapid return of tourists to Japan helping fuel inflation for BOJ
Almost 2 million visitors arrived from overseas in April, compared with less than 140,000 a year earlier, according to Japan’s National Tourism Organization.
Japan Times
BUSINESS
May 31, 2023
BOJ to hold policy amid election chatter, ex-board member says
The BOJ will refrain from changing its 'yield curve control' program while speculation continues to swirl that the prime minister will call a snap election, according to an ex-board member.
Japan Times
BUSINESS
May 26, 2023
BOJ’s Ueda says wages aren’t the goal as he keeps speculators in dark
The remarks leave room for the bank to be nimble about how and when it will be convinced about the prospect of price gains.
Japan Times
BUSINESS
May 19, 2023
Bank of Japan chief warns against premature policy change even after price jump
Ueda’s reassurance that the central bank will continue with easing contrasts with lingering speculation over policy adjustment among BOJ watchers.
Japan Times
BUSINESS
May 19, 2023
Japan’s inflation quickens again, putting pressure on BOJ view
Economists see resilient consumption sustaining the country’s recovery for the foreseeable future.
Japan Times
BUSINESS / Economy
May 18, 2023
Imports fall for first time in two years, easing impact as export growth slows
The trend cushions the hit of a global economic slowdown weighing on exports, reflecting a fall in prices for commodities including crude oil and liquid natural gas.
Japan Times
BUSINESS / Economy
May 11, 2023
BOJ adjusts English translation under Gov. Kazuo Ueda, hinting at new policy era
The bank has adopted a new word in English to describe its stance of continuing with large-scale monetary easing, while the original Japanese word remains unchanged.
Japan Times
BUSINESS
Apr 26, 2023
Ueda looks to avoid fireworks at first BOJ meeting as chief
Ueda and his fellow board members are forecast to keep interest rate and asset purchase settings unchanged at the end of the two-day meeting Friday.
Japan Times
BUSINESS / Economy
Apr 20, 2023
Most BOJ watchers expect Ueda to hold policy at first meeting
Almost 40% of economists see June as the most likely time for a policy change, largely in line with the previous survey last month.
Japan Times
BUSINESS
Apr 14, 2023
China left out of Sri Lanka debt talks amid angst over delays
Finance chiefs from India, Japan and the Paris Club of sovereign creditors held a joint briefing in Washington with the International Monetary Fund to mark the start of the restructuring.
Japan Times
BUSINESS / Economy / FOCUS
Apr 6, 2023
BOJ’s Kuroda hands $11.7 trillion ‘shock and awe’ experiment to his successor
In 10 years, the BOJ forked out ¥1.55 quadrillion ($11.7 trillion) on bonds, stock funds and corporate debt. The staggering cost has economists asking: 'Was it all worth it?”
Japan Times
BUSINESS
Mar 31, 2023
IMF says BOJ should avoid hasty exit and provide rate guidance
Any indication of a shift in the 'yield curve control' program could trigger a massive bond selloff, leaving some economists predicting that an end to YCC could come very abruptly.
Japan Times
BUSINESS / Economy
Mar 9, 2023
Japan’s economy narrowly avoids recession in fragile recovery
The ongoing weakness in the economy supports the central bank’s view that Japan still needs help from easy monetary policy.
Japan Times
BUSINESS
Mar 3, 2023
BOJ watchers see higher chance of June shift after Kazuo Ueda hearings
Some 41% of BOJ watchers expect a tightening step to take place in June according to a recent survey.
Japan Times
BUSINESS
Mar 3, 2023
Tokyo inflation slows sharply as subsidies mask ongoing strength
Consumer prices excluding fresh food rose 3.3% in the capital in February, slowing for the first time since January last year.
Japan Times
BUSINESS / Economy
Mar 2, 2023
Peaking inflation risks are throwing Japanese investors a curveball
Early inflation figures for Tokyo, due Friday, are expected to show core consumer price growth slowing a full percentage point to 3.3% in February, from January’s four-decade high.
Japan Times
BUSINESS
Feb 22, 2023
BOJ likely to raise interest rates gradually, former board member says
Makoto Sakurai, who has known Bank of Japan governor nominee Kazuo Ueda for decades, sees little chance of a big policy shift at Ueda’s first policy meeting.
Japan Times
BUSINESS
Feb 20, 2023
BOJ watchers flag risk of March surprise by Kuroda to ease Ueda transition
As soon as he takes the helm nominated successor Kazuo Ueda will likely face intense market pressure for change, even if he may prefer to take time to carefully assess the stimulus measures.
Japan Times
BUSINESS / Economy
Feb 16, 2023
Japan’s trade deficit smashes record, topping ¥3 trillion
Export growth slowed sharply to 3.5%, with chip-making equipment among the largest drags, in a sign of weakening global tech-sector demand.
Japan Times
JAPAN
Feb 9, 2023
LDP said to be divided if Kishida seeks BOJ pivot
With the nomination of a new governor likely to come next week, several party members said there will be opposition within the party if Kishida chooses Hirohide Yamaguchi.

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