Business | Jan 23

Noto Peninsula Earthquake Could Impact End of Negative Interest Rates, Bank of Japan Governor Indicates

TOKYO, Jan 23 (News On Japan) - In the first monetary policy meeting of the year, the Bank of Japan (BoJ) decided to maintain its large-scale financial easing measures. Governor Kazuo Ueda, in a press conference, indicated that the Noto Peninsula earthquake might influence decisions related to the abolition of negative interest rates.

Governor Ueda stated, "If the Noto Peninsula earthquake leads to significant negative macroeconomic impacts, it could strongly affect our decision on the 'exit' from policies such as the abolition of negative interest rates."

As of now, Governor Ueda noted that no significant negative impacts on the overall economy's supply chain or consumer sentiment have been observed due to the earthquake. However, he mentioned that the full extent of the damage is still unclear, and depending on the situation, it could affect the 'exit' from financial policies like the cessation of negative interest rates.

In this year's first policy-setting meeting, the BoJ has maintained its current policy of negative interest rates and keeping the long-term interest rates at a cap of 1%.

This stance reflects the BoJ's cautious approach in navigating economic uncertainties, especially in the wake of natural disasters like the Noto Peninsula earthquake. The central bank is balancing its commitment to stimulating the economy with the need to adapt its strategies in response to unforeseen events. As the situation unfolds, the Bank of Japan remains vigilant, ready to adjust its policies to ensure economic stability and growth.

Source: ANN

MORE Business NEWS

Uniqlo, a leading clothing retailer, has announced the start of used clothing sales at its Tenjin store in Fukuoka City, a first for the brand in Kyushu.

With Japan's Nikkei hovering close to the 40,000 mark, market experts point out that the increasing trend of "stock splits" in recent years is supporting these higher stock prices.

As Japan begins overtime regulations for drivers, popular bus tours are now being forced to reconsider their routes.


Four men have been arrested by Tokyo police for allegedly recruiting women for prostitution in the United States via a website, promising encounters with affluent clients and high earnings.

For the first time in 73 years, Japan has unveiled a newly constructed whaling mother ship, equipped with drone technology for whaling operations in the Antarctic Sea.

The Liberal Democratic Party (LDP) in Nara Prefecture has disciplined its former Youth Division Chief following a controversial dance party incident.

Residents of Japan's oldest student dormitory, self-managed for over 100 years, are digging in as Kyoto University attempts to evict them from the premises.

A Japan Airlines flight en route from Melbourne to Narita Airport encountered sudden severe turbulence on April 1, causing injuries to several cabin crew, including a broken leg.