News On Japan

Yen surges on surprise Bank of Japan policy move

TOKYO, Dec 21 (albawaba.com) - The yen soared to a four-month high against the dollar Tuesday after a surprise tweak to monetary policy by the Bank of Japan, which decided against hiking interest rates to tame decades-high inflation.

Rallying also against the euro, the yen's jump weighed heavily on share prices of Japanese exporters.

The BoJ move sent the yen to 131.01 per dollar, its strongest level since August.

"The shift in (Bank of Japan) policy was slight," noted Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.

"The decision is being read as a sign of testing the water, for a potential withdrawal of the stimulus which has been pumped into the economy."

The Bank of Japan (BoJ) adjusted its parameters for controlling bond yields, in a shift away from its long-running dovish stance of keeping rates ultra-low to boost the struggling economy. ...continue reading

News On Japan
POPULAR NEWS

A camera crane collapsed at a music festival venue in Osaka, injuring at least four people.

Japan's National Institute of Information and Communications Technology (NICT) has reported the occurrence of a major solar flare on October 3rd.

Tokyo University's iconic Red Gate, which has long been a symbol for prospective students to pass through, has remained closed for the past three years, leaving many students unable to experience walking through it.

Prime Minister Ishiba has instructed relevant ministers to draft economic measures focused on addressing rising prices, strengthening growth, and ensuring safety and security.

A man who was placed on the public wanted list Thursday is suspected of playing a key role in a series of robberies in Tokyo and Saitama.

MEDIA CHANNELS
         

MORE Business NEWS

Rice snack manufacturers are facing a tough business environment as the price of rice soars.

Disney's exclusive merchandise releases in Japan have sparked a new controversy, not just over traditional resale but also a trend known as 'proxy shopping.'

The used smartphone market in Japan is booming, particularly following the release of Apple's latest iPhone model. Despite the new iPhone 16 hitting the market last month, more consumers are opting for pre-owned devices due to their significantly lower prices.

Under Prime Minister Ishiba’s new economic policy, termed "Ishibanomics," what will happen to prices, wages, and ultimately, our daily lives? Ishiba's unusual remarks on interest rates have caused stock market volatility, leaving many to question the future direction of the government's economic policies.

Electric Vehicles (EVs) are currently facing both tailwinds and headwinds. We’ve investigated the strategies of popular Chinese manufacturers and the Japanese players that are fighting back.

Osaka City has handed over land for the Integrated Resort (IR) project, which will include a casino, after signing a contract to lease the land to the developer for 35 years at a monthly rent of 2.1 billion yen.

Japan's Ministry of Internal Affairs and Communications is set to introduce new mobile phone numbers starting with '060,' possibly as early as December, marking the first addition of a new number in 11 years.

Takeshi Niinami, President and CEO at Suntory Holdings, says Japanese companies need to increase wages to retain good talent. (Bloomberg)