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...Leo LewisThe Japanese authorities — so that’s the Ministry of Finance and the Bank of Japan, and the government sort of chief currency diplomat — have all been quite thin-lipped about this....
...Ueda said in mid-April that the central bank could act if the impact of the weak yen became “too big to ignore”....
...Since taking the reins, Okuda has struggled to turn around the bank and was forced to cut profits targets last May....
...The Japanese government appears to have deployed roughly $35bn supporting the yen on Monday, according to money market data released by the Bank of Japan....
...Ueda said the central bank would raise rates or adjust the degree of its easing measures if prices rose in line with its outlook....
...leo.lewis@ft.com Letter in response to this article: Where Japan already feels like an emerging market / From Desmond Lachman, American Enterprise Institute, Washington, DC, US...
...However, his extraordinary longevity in the post stored up problems for the bank, current and former staff told the Financial Times....
...On Friday the Bank of Japan left rates unchanged, fuelling bets against the currency as it slipped past ¥158....
...The decline accelerated after BoJ governor Kazuo Ueda appeared to play down the risks of a weaker yen when the central bank kept interest rates near zero last week....
...leo.lewis@ft.com, sara.germano@ft.com Letter in response to this article:For future reference . . . / From Larry Curtis, Parkland, FL, US...
...The recent drop comes despite the Bank of Japan’s pivot from its ultra-loose monetary policy, which some analysts had expected to exert upward pressure on the yen....
...Bank of Japan governor Kazuo Ueda, however, signalled this week that the central bank could raise interest rates if the impact of the weaker yen became “too big to ignore”, marking an unusual and strong...
...leo.lewis@ft.com...
...Leo LewisWhat you had in Japan was deflation. The banks were in a lot of trouble because of how much money had been loaned against property....
...Izumi Devalier, Bank of America’s head of Japan economics, says that the evidence from these remains patchy....
...Prior to the announcement shares in the bank were trading close to a five-year high; the profit warning triggered an immediate drop of more than 21 per cent....
...The US central bank suggested on Wednesday it would cut rates down to between 3 and 3.25 per cent by the end of 2026....
...The broader Topix index, which includes hundreds of smaller companies and gives a much heavier weighting to banks and financial companies, also rose strongly on Friday, hitting its own 34-year high of 2,576...
...Leo Cremonezi ‘You Belong Here: The power of being seen, heard and valued on your own terms’, by Kim Dabbs Diversity, equity and inclusion have shot up the corporate agenda over the past the few years....
...” in smaller banks such as Aozora....
...Receding inflation around the world has stoked expectations that central banks including the US Federal Reserve and European Central Bank will start to cut rates this year....
...Ahead of the announcement, shares in the bank had been trading close to a five-year high....
...A Bank of America survey this month showed the net percentage of global fund managers who were overweight Japanese stocks had risen to 13 per cent....
...Strategists at Bank of America now forecast that the Nikkei will end the year at 41,000 while the Topix will reach 2,850, just short of its all-time high of 2,884 points....
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