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28 Jan 2020

Japan's PM Abe nominates reflationist Adachi to BOJ board - Bloomberg

Prime Minister Shinzo Abe has nominated economist Seiji Adachi, a reflationist, to replace another reflationist Yutaka Harada on the Bank of Japan's policy board.

Japan's Diet, the national bicameral legislature, is likely to approve the nomination before Harada ends his five-year term on March 25.

Adachi has written a book in the past on spurring prices to restore growth in the Japanese economy.

The BOJ has been running an ultra-accommodative monetary policy since 2013, but so far, inflation has remained well below the 2% target.

The central bank now looks to have run out of ammo. Meanwhile, Abe has been signaling since last year that achieving 2% inflation is not the only goal of his Abenomics policy to restore stable growth.

Jan 28, 2020

Australian Business Confidence at a six-year low - ANZ

The Australian and New Zealand Banking Group analysts offer a quick reaction to the Australian NAB Business Survey that disappointed in December. Key

S. Korean FinMin Hong: Coronavirus outbreak may impact S. Korea's exports, economic growth; Won at three-week lows

South Korean Finance Minister Hong Nam-ki said in a policy meeting in Seoul that the government will fund efforts to contain the spread of coronavirus