World News Insights
1-3 Minute Gist
Search, personalize, or simply browse. Follow the world around you from gist and context to insights.
Who we are | Our Credo | Ways of using Lyrarc | FAQ | Send Feedback | First Letter From the Editor
Sign up. It's free and easy to use
Create an account
to personalize your feed of articles and topics.
All Topics Article
Japan Picks BOJ Critic to Be Its Next Chief
Keywords:
Haruhiko Kuroda, 68 years old, a senior finance ministry expert who ran the ministry's currency policy as vice finance minister for 4 years in the early 2000's, is prime minister Abe's nominee for central bank chief. He lectured at Hitoshibashi University for two years before becoming the head of the Asian Development Bank. His book "Success and Failure in Fiscal and Monetary Policy," is critical of the Bank of Japan for mistakes in being first too accomodative in monetary policy to set up the 1987 crash, and then tightening too quickly leading to the deflation and recessions of the last two decades. By choosing an expert with a long experience in the field of monetary policy and a vigorous advocate of getting things right to shake off the deflationary trends, Abe is sending a strong signal to financial markets. Kuroda says he is looking at a shorter time frame to achieve a 2% target for inflation- about two years. In essence Kuroda is taking a page from the policy book of a small group of MIT trained economists, Bernanke at the U.S. Federal Reserve, Draghi at the European Central Bank, and Mervyn King at the Bank of England to boost domestic economies in the context of increasing global growth. The yen weakened to 94.77 to the dollar on Feb 25, 2013, after the announcement. Abe's nominee for one of two deputy governor appointments is Kikuo Iwata, a 70 year old economist who was also critical of Bank of Japan monetary policy since the 1990's. The Abe administration has also carefully communicated this message. Speaking at the Centre for Strategic and International Studies in Washington D.C. Abe said Japan's goal was to increase exports, but at the same time it will increase imports which should benefit the U.S., China, India and other countries. He described a recovery in Middle America from the Dakotas to the Carolinas and sees something like this happening also in Japan. Even the appeals to nationalist sentiment are also coupled with the message to China and S. Korea of not climbing up the escalation ladder and seeking good relations to promote mutually beneficial development. Abe's focus is on building the U.S.- Japan relationship.
Shinzo Abe, prime minister of Japan, and the Bank of Japan's monetary policy
01/30/2012
Failure of the president of the Bank of Japan to take an activist stance and provide confidence to financial markets in Japan. Criticism from the Japanese government and LDP candidate for prime minister Shizo Abe. Unstable politics and government in Japan as three prime ministers from the DPJ party are followed by Shinzo Abe of the LDP.
Grouped Articles
G-20 Backs Japan on Yen Policies
Wall Street Journal 04/20/2013
OECD Welcomes BOJ Inflation Target, Easing
Wall Street Journal 04/23/2013
Japanâs Economy Growing at 3.5% Annualized Rate
New York Times 05/15/2013
New York Times 05/23/2013
Now Comes the Hard Part for Abenomics
Wall Street Journal 07/22/2013
Japanese Prime Minister's Support Tops 70%
Wall Street Journal 02/11/2013
The Bank of Japan, Japan's central bank, and monetary policy
03/01/2011
The central bank of Japan and its policies for the yen and deflationary trends.
Grouped Articles
Target Is 'Flexible,' Says Japan Bank Chief
Wall Street Journal 04/12/2013
Japan Official Cites Fundamentals in Yen's Drop
Wall Street Journal 04/12/2013
G-20 Backs Japan on Yen Policies
Wall Street Journal 04/20/2013
OECD Welcomes BOJ Inflation Target, Easing
Wall Street Journal 04/23/2013
BOJ Price Forecast Falls Short of Target
Wall Street Journal 04/28/2013
Bank of Japan's Inflation Game Going Into Extra Innings
Wall Street Journal 04/26/2013
The Bank of Japan, Japan's central bank, under Haruhiko Kuroda in 2013-2016
02/22/2013
The yen weakens to 94.77 yen to the dollar on Feb 25, 2013 after the announcement of the appointment of Kuroda to head the central bank by prime minister Abe. Kuroda sets a two year time frame to achieve the 2% inflation target. He has experience in monetary and currency policy as he was head of the currency policy department at the finance ministry in the early 2000's, and has published a book about the failure and success of monetary and fiscal policy. For 2 years Kuroda lectured at Hitoshibashi University, before becoming head of the Asian Development Bank. Kuroda brings the kind of experience and caliber that Bernanke, Draghi and King bring to the central banks of the U.S., Europe and the UK.
Grouped Articles
Target Is 'Flexible,' Says Japan Bank Chief
Wall Street Journal 04/12/2013
Wall Street Journal 04/18/2013
Japan Official Cites Fundamentals in Yen's Drop
Wall Street Journal 04/12/2013
G-20 Backs Japan on Yen Policies
Wall Street Journal 04/20/2013
OECD Welcomes BOJ Inflation Target, Easing
Wall Street Journal 04/23/2013
BOJ Price Forecast Falls Short of Target
Wall Street Journal 04/28/2013
Errors made- US and Japanese economy comparisons for a lost decade.
02/13/2009
Japan's economy suffered badly after a flood of credit and bad loans, resulting in deflation and a lost decade. The comparison with what the US faces now.
Grouped Articles
Japan Is a Model Not a Cautionary Tale
New York Times 06/09/2013
Japanese Prices Rise, Signaling Rebound
Wall Street Journal 07/26/2013
In Japan’s Stagnant Decade, Cautionary Tales for America
New York Times 02/13/2009
In Japan’s Stagnant Decade, Cautionary Tales for America
New York Times 02/13/2009
New York Times 10/30/2014
Abe: U.S., Japan Close to TPP Trade Deal
Wall Street Journal 04/21/2015
Living with deflation and deflationary trends in Japan
01/27/2011
Grouped Articles
Japanese Prices Rise, Signaling Rebound
Wall Street Journal 07/26/2013
Japan Says 'Sayonara' to Deflation Worries
Wall Street Journal 12/26/2013
Risk of Deflation Feeds Global Fears
Wall Street Journal 10/16/2014
Japan’s Abe Vows to Push for Wage Increases
Wall Street Journal 12/16/2014
Japan Learns to Live with Deflation
BusinessWeek 01/27/2011
Pressure Rises on BOJ to Reach Inflation Target
Wall Street Journal 05/07/2012
Bank of Japan interest rate and monetary policy- 2011-2016
09/19/2012
Grouped Articles
Target Is 'Flexible,' Says Japan Bank Chief
Wall Street Journal 04/12/2013
G-20 Backs Japan on Yen Policies
Wall Street Journal 04/20/2013
OECD Welcomes BOJ Inflation Target, Easing
Wall Street Journal 04/23/2013
BOJ Price Forecast Falls Short of Target
Wall Street Journal 04/28/2013
Bank of Japan's Inflation Game Going Into Extra Innings
Wall Street Journal 04/26/2013
Bank of Japan Sends a Gift to U.S. Markets: Yield Seekers
Wall Street Journal 04/29/2013
The Japanese economy and the rising yen in 2010-2012
05/27/2010
The yen reached 86 yen to the dollar by August 2010. Chinese government accumulation of Japanese bonds was amajor factor in the yen's rise in 2010. By August 2011 the yen experienced a new surge going up to 78 yen to the U.S. dollar resulting in intervention by the Bank of Japan in currency markets. Investor flight to safe havens such as the Swiss Franc and the Japanese yen with the debt crisis in the U.S. and the Eurozone. The impact on export markets. The newly elected LDP government of Shinzo took strong action to reverse this and improve export competitiveness in 2013.
Grouped Articles
Japan's Yen Rises Above War Jitters, Deflation
BusinessWeek 05/27/2010
Japan Faces Uphill Battle in Curbing Yen's Rise
Wall Street Journal 08/04/2010
Behind Japan's Allure: Stagnancy
Wall Street Journal 08/24/2010
Electric Cars Make Japan's Gas Engine Industry Anxious
New York Times 11/02/2010
Japanese manufacturers: Leaving home
Economist 11/20/2010
Nissan to 'Significantly' Reduce Japan Exports
Wall Street Journal 02/01/2011
Deflation fighting efforts by the Abe administration in Japan 2013-2014
12/27/2011
Grouped Articles
Pro-Inflation Policies Show Signs of Helping the Japanese Economy
New York Times 05/09/2013
New York Times 05/23/2013
Tokyo's Move to Raise Tax Hits Snag
Wall Street Journal 12/27/2011
Japanese Prices Rise, Signaling Rebound
Wall Street Journal 07/26/2013
Japan Says 'Sayonara' to Deflation Worries
Wall Street Journal 12/26/2013
Japan Official Cites Fundamentals in Yen's Drop
Wall Street Journal 04/12/2013
Japan and deflation after the global economic crisis of 2009.
04/13/2009
Grouped Articles
Tokyo's Move to Raise Tax Hits Snag
Wall Street Journal 12/27/2011
Japanese Prices Rise, Signaling Rebound
Wall Street Journal 07/26/2013
Japan Says 'Sayonara' to Deflation Worries
Wall Street Journal 12/26/2013
Japan Official Cites Fundamentals in Yen's Drop
Wall Street Journal 04/12/2013
Falling Prices in Japan Feed Deflation Fears
New York Times 04/13/2009
Japan Braces for Protracted Stretch of Deflation
Wall Street Journal 05/01/2009
We took a different way to help millions around the world build educated informed mindsets that affects and shapes their lives. For a future that is open, global and digital, with everyone having access to high quality information. We believe in the renewal of America, renewal of Europe, the renewal of India, the rest of Asia, Latin America and Africa. The renewal of our supply chains, health, education, infrastructure, as we rebuild our countries after the pandemic. Literacy and knowledge we believe cannot thrive and grow in a world of web bots, web crawlers, or AI. This requires human curiosity, human learning, and human imagination. We take as inspiration the saying- “One has to be free, and as broad as sky. One has to have a mind that is crystal clear, only then can truth shine in it.” Every contribution whether big or small is precious- in this crisis and ahead.
Support Lyrarc from as small as $1
Terms and Conditions | Copyright Policy | Privacy Policy | Contact Us