Kenichi Onozawa

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BOJ to end yield curve control and ETF purchases Tuesday

Mar 18, 2024 | asia.nikkei.com | Kenichi Onozawa

TOKYO -- The Bank of Japan is poised to decide to end its yield curve control and purchases of risk assets as well as call time on negative interest rates Tuesday, Nikkei has learned, making the biggest change in Japanese monetary policy in nearly two decades. The central bank, holding a two-day policy board meeting through Tuesday, is preparing to wind down much of its massive monetary easing program.
BOJ to discuss negative rate exit next week as Japan pay raises grow

Mar 13, 2024 | asia.nikkei.com | Kenichi Onozawa

TOKYO -- The Bank of Japan will discuss whether to end its negative interest rate policy at a meeting that starts Monday, as pay hikes by major companies bring the central bank's 2% price stability target within reach. With more BOJ policymakers embracing the idea, the decision is seen coming down to the results of Japan's annual wage negotiations, to be published by top labor confederation Rengo on Friday.
Odds rise that Japan will lift negative interest rates in March

Mar 1, 2024 | asia.nikkei.com | Shiori Goso |Kenichi Onozawa

SAO PAULO/TOKYO -- Will the Bank of Japan make the much-awaited move to end its negative interest rate policy in March or April? Proponents of the view that it will be lifted this month are feeling a bit more confident. Speaking Thursday in Sao Paulo after a meeting of Group of 20 finance ministers and central bankers, BOJ Gov.
When will BOJ end negative rates? Policymakers eye March or April

Jan 31, 2024 | asia.nikkei.com | Kenichi Onozawa

TOKYO -- The Bank of Japan appears closer to deciding when to end its negative interest rate policy as it grows more confident about the outlook for wage growth and inflation, minutes from its January meeting released Wednesday show. The summary of opinions from the meeting that ended Jan. 23 included more positive views from policymakers on pivoting away from large-scale easing compared with the December meeting.
Japan's negative rate exit scenario muddled by Fed outlook

Dec 13, 2023 | asia.nikkei.com | Kenichi Onozawa

TOKYO -- With Japanese inflation and wage hikes entering a long-sought virtuous cycle, financial markets eye several time frames for the Bank of Japan's anticipated exit from its negative rate policy. But in other advanced countries, central banks have begun considering interest rate cuts, which could complicate the BOJ's plan to tighten policy. The U.S. Federal Reserve signaled on Wednesday that it might cut rates three times next year.
BOJ lays groundwork for end of Japan's negative rates

Dec 6, 2023 | asia.nikkei.com | Kenichi Onozawa

TOKYO -- The Bank of Japan appears to be preparing for the end of its long-held negative interest rate policy, as Deputy Gov. Ryozo Himino and other policy board members signal increasing optimism on price and wage increases. Himino said at a press conference following a meeting on Wednesday that exiting the negative rate policy would have relatively little impact on Japan's economy.
After BOJ policy tweak, focus turns to exit from negative rates

Oct 31, 2023 | asia.nikkei.com | Kenichi Onozawa

TOKYO -- With the Bank of Japan discarding a strict ceiling for 10-year yields on Tuesday, market watchers have started to think about when the bank will end its negative interest rate policy. An end to negative rates would be a key step in tightening Japan's monetary policy, and would indicate a clear shift in the BOJ's direction. But the move is seen as facing steep hurdles, both economically and politically.
BOJ deputy chief urges 'balanced decision' on yield curve control

Jul 6, 2023 | asia.nikkei.com | Daichi Mishima |Kenichi Onozawa

TOKYO -- Japan should take a balanced approach on adjusting interest rates, Bank of Japan Deputy Gov. Shinichi Uchida told Nikkei in his first interview with the media since taking office in March. Under yield curve control (YCC), the BOJ aims to keep yields on 10-year Japanese government bonds within 50 basis points on either side of 0%.
Speculation grows of BOJ change to yield curve control policy

Jun 26, 2023 | asia.nikkei.com | Kenichi Onozawa |Toshihiro Sato

TOKYO -- Markets in Japan were generally steady in response to comments made Monday by Japanese government officials aimed at halting the slide in the yen, as well as a statement from the Bank of Japan suggesting a possible revision to its yield curve control policy. But as the central bank's next meeting scheduled for July approaches, markets could become more volatile.
BOJ chief's stay-the-course approach runs into Japan's widening inflation

Jun 4, 2023 | asia.nikkei.com | Kenichi Onozawa

TOKYO -- The expectation of moderating inflation that underlies the Bank of Japan's decision to keep monetary policy loose faces new pressure as price hikes spread beyond food to services, focusing attention on upcoming job data for hints about the central bank's next move. The BOJ has played the waiting game under new Gov. Kazuo Ueda.