IMF sees uncertainty over Japan’s monetary policy, spillover globally

May 04 (Business Times) - The International Monetary Fund (IMF) on Thursday (May 4) warned of “uncertainty” around the direction of Japan’s monetary policy, saying a possible shift from ultra-low interest rates could have a significant impact on global financial markets.

Krishna Srinivasan, director of the IMF’s Asia and Pacific Department, also pointed to risks surrounding Asia’s economic outlook including from weakening exports to advanced economies, slowing productivity in China and a fragmentation of global trade.

“Over the medium term, we expect the Chinese economy to experience a slowdown in productivity and investment, which will lower growth below 4 per cent by 2028,” he said.

“In addition, we see a risk that the global economy fragments into trading blocs,” which could deal a particularly heavy blow to export-reliant Asia, Srinivasan said in a briefing at the Asian Development Bank’s annual meeting in Incheon. ...continue reading

Typhoon No. 22 Forecast to Strengthen and Approach Mainland Japan

As of 9 a.m. on October 6th, Typhoon No. 22 (Halong) was located over the ocean south of Japan, moving slowly northward with a central pressure of 994 hectopascals and maximum sustained winds near its center of 23 meters per second. The system is projected to develop into a strong typhoon by October 8th and may reach a “very strong” category when approaching the Tokai region around October 9th. However, the storm’s path remains uncertain, and weather authorities are urging the public to stay alert for new updates.

Driver In Training Behind Tokyu Line Collision That Caused Train Derailment

A collision occurred on the Tokyu Den-en-toshi Line on the night of October 5th when a local train attempting to arrive at Kajigaya Station in Kawasaki City struck a stationary out-of-service train, causing several cars of the latter to derail. Investigators from the Japan Transport Safety Board arrived at the scene on the morning of October 6th to begin examining the cause of the accident.

Spanish Tourist Injured in Bear Attack at World Heritage Shirakawa-go

A Spanish tourist was attacked by a bear while visiting Shirakawa-go, the UNESCO World Heritage village in Gifu Prefecture known for its traditional thatched-roof houses, on October 5th. The incident adds to a growing number of bear encounters reported across Japan in recent weeks.

Takaichi Wins Leadership Race, Declares All Must Work Like Horses

Sanae Takaichi, elected as the Liberal Democratic Party’s new president on October 4th, declared on stage, “I ask everybody to work like a horse,” after defeating agriculture minister Shinjiro Koizumi in a runoff to become the party’s first female leader.

Honey Trap Crimes Becoming More Malicious

A string of so-called “honey trap” cases is drawing attention across Japan as schemes once limited to extortion have become increasingly violent, involving physical assaults and life-threatening intimidation.

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Tokyo Stocks Soar on Takaichi Victory

The Nikkei Stock Average surged by more than 1,900 yen at one point on the Tokyo market on October 7th, setting a new intraday record high. It was the first time in history the index has climbed into the 47,000 range, surpassing the symbolic 46,000 mark.

Japan's Elderly Forced to Pay 20% of Medical Costs from October

From October, a new policy has come into effect requiring some people aged 75 and over to pay 20% of their medical costs at the counter, doubling the previous burden for many elderly patients. For those living on pensions, the increased costs are squeezing already tight household budgets and fueling concern about how to manage daily life.

Tokiwair to Join Aircraft Manufacturing, Aiming for First Flight Within Five Years

Tokiwair, a Niigata-based airline, is planning to produce lightweight sport aircraft (LSA), a category of small propeller planes, in collaboration with factories in the Tsubame-Sanjo area of Niigata Prefecture.

Driver Shortage Hits Tokyo Buses

The Tokyo Metropolitan Bureau of Transportation has reduced 206 Toei bus services in its October timetable revision, underscoring how the nationwide shortage of drivers is now taking a serious toll on the capital’s public transport.

Shows Cautious View on Rate Hikes, Citing Tariff Impact

Bank of Japan Governor Kazuo Ueda indicated that the pace of Japan’s economic growth is expected to temporarily slow due to the effects of tariffs, while predicting that growth will pick up again as overseas economies recover. Speaking in Osaka on October 4th at a meeting with the Kansai business community, Ueda stressed that monetary policy would be guided by overall economic and price conditions.

Sixty Percent of Hospitals in Japan Operating in the Red

Around 60 percent of hospitals across Japan are operating in the red, creating a critical situation where closures and bankruptcies are no longer a distant threat. Behind the figures lies a deepening financial crisis that is raising questions about whether patients can continue to rely on stable access to medical care.

Asahi Cyberattack Leaves Stores Without Beer

A system failure caused by a cyberattack at beverage giant Asahi Group shows no sign of resolution, disrupting deliveries and leaving some supermarket shelves empty.

Forever 21 to Exit Japan for Third Time

Forever 21, the American fast fashion brand that once led a global boom in affordable clothing, has decided to withdraw from Japan for the third time after its US parent company filed for bankruptcy and supply from the United States came to a halt.

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