News On Japan

Bank of Japan adopts unlimited JGB purchases to buoy economy in pandemic

Apr 28 (Japan Times) - The Bank of Japan expanded monetary stimulus on Monday and pledged to buy unlimited amount of bonds to keep borrowing costs low as the government tries to spend its way out of the deepening economic pain from the coronavirus pandemic.

The move puts the BOJ in line with other major central banks that have unleashed unprecedented amounts of monetary support as the health crisis stokes fears of a deep global recession.

The central bank also sharply cut its economic forecast and projected inflation would fall well short of its 2 percent target for three more years, suggesting its near-term focus will be to battle the crisis.

“The spread of the coronavirus at home and abroad is inflicting a severe impact on Japan’s economy,” BOJ Gov. Haruhiko Kuroda told a news conference after the policy meeting in Tokyo.

“The achievement of the BOJ’s 2 percent inflation target … will take time. The outlook for prices is highly uncertain,” he added.

News On Japan
POPULAR NEWS

The Tokyo Metropolitan Police Department has launched an investigation following death threats sent to the office of former House of Councillors member Renho, who is running for the Tokyo gubernatorial election.

In Hokkaido, where bear attacks on cattle have been frequent, stray dogs exhibit wolf-like behavior have now become a serious issue. On June 19, footage captured in Shunan, Yamaguchi Prefecture, showed a stray dog rushing out aggressively towards an already formed pack. This region has been plagued by the problem of stray dogs for around 20 years due to uncontrolled breeding.

Honda's Super Cub, known as the world's best-selling motorbike with over 100 million units produced, will soon see the end of an era. Honda has announced its decision to stop the production of motorbikes with engine capacities of 50cc or less, including the iconic Super Cub.

The Emperor and Empress of Japan have arrived in the UK for an official visit aimed at strengthening friendly relations. This marks the Emperor's first state visit to the UK in 26 years since 1998.

According to a report by the Organisation for Economic Co-operation and Development (OECD), 28.3% of women born in 1975 in Japan are childless, the highest rate among member countries.

NEWS ON JAPAN SOCIALS
         

MORE Society NEWS

The series 'Sonaeru,' which focuses on disaster preparedness, brings attention to an incident from July 2023 when record-breaking rainfall in Fukuoka Prefecture's Kurume City triggered a massive landslide in the Minoo Mountains, resulting in one fatality. This region faced a similar disaster 300 years ago, with historical documents offering clues on how to prepare for such unexpected events.

Japanese police are stepping up efforts to crack down on the designated gangs Yamaguchi-gumi and Kizuna-kai whose rivalry continues.

In July two years ago, former Prime Minister Abe was shot and killed. It has been revealed that the man accused in the incident said he 'did not expect the situation to become what it is now.'

Police in central Japan are investigating the possibility of a bear attack following the grim discovery of a man in his 50s found dead in a forest with claw marks on his face and back.

A high-profile papa katsu woman who earns 5 million yen a month has shared her insights following the resignation of former MP Miyazawa over a papa katsu scandal. In a candid interview, the woman, identified as Rika, 25, shed light on her two-year experience in the world of compensated dating, commonly referred to as papa katsu.

In a significant ruling regarding the estate of businessman 'Kishu Don Juan,' the court declared on Friday the will, which states that his 1.3 billion yen estate be donated entirely to the city, to be valid. Relatives had contested the will's validity, but the court dismissed their claims.

A hotel in Kyoto refused to accommodate an Israeli man, unilaterally identifying him as a member of the military. The city issued administrative guidance to the hotel on June 20, citing potential violations of the Hotel Business Law.

A steam locomotive (SL) driver at Mooka Railway was found to have exceeded the alcohol limit twice during pre-operation checks but continued to operate the train. The incident came to light following an internal whistleblower's report.