TOKYO, Mar 25 (Bloomberg) - On March 19, Japan’s central bank ended its latest economic experiment. The BOJ scrapped the world’s last negative interest rate policy, with the first rate hike since 2007.
The move ends the most aggressive monetary stimulus program in modern history, signaling confidence that the country is finally leaving behind years of deflation and economic stagnation. How will this massive shift disrupt everyday lives across the country and beyond?
Source: Bloomberg
Socks from a leading manufacturer in Nara Prefecture, Japan’s top producer, have been chosen for the official uniforms of staff at the Osaka-Kansai Expo. On February 21st, 10,000 pairs were shipped to Osaka.
As the end of the fiscal year approaches, demand for moving services is surging, driving costs to unprecedented levels. Estimates from moving companies suggest that fees, currently around 200,000 yen, could double to 400,000 yen by late March.
JR Central announced on Thursday the introduction of a new test car, the 'M10,' for the maglev test track in Yamanashi Prefecture.
Kansai International Airport’s newly renovated immigration area was unveiled this week, boasting an open-concept design that allows travelers to submit passports, facial photos, and fingerprints in a single step.
With the arrival of the Spring Festival, a surge in Chinese tourists is bringing an influx of foreign patients to Japanese clinics. From a vegetarian suffering appendicitis after indulging in local cuisine to an American traveler sustaining a head injury at a ryokan, clinics are seeing a wide range of medical cases.
Japan's nationwide Consumer Price Index (CPI) rose 3.2% in January compared to the previous year, marking the highest increase in a year and seven months, according to the Ministry of Internal Affairs and Communications.
The wholesale price of rice in Japan continues to climb, with the Ministry of Agriculture, Forestry, and Fisheries announcing on February 19th that the average price for rice traded in January under the 2024 harvest reached 25,927 yen per 60 kilograms of brown rice.
SBI Shinsei Bank will double the interest rate on savings accounts for individuals aged 60 and older starting in April.
More than half of employees in Japan say they do not want to become managers, according to a recent survey on management career aspirations conducted by a human resources company. Only 20.5% of respondents expressed a desire for a managerial role, while the majority said they would rather avoid it.
Osaka is witnessing an influx of foreign luxury hotels, fueled by a surge in inbound tourism. In 2024, a record 14.63 million international visitors arrived in the city, intensifying competition among global hotel brands.
Japan's real gross domestic product (GDP) grew at an annualized rate of 2.8% from October to December last year, marking the third consecutive quarter of positive growth. However, the results are not entirely encouraging, as weak consumer spending remains a concern.
SoftBank founder Masayoshi Son has put Arm at the centre of his plans to build a vast infrastructure network for artificial intelligence. The launch of Arm’s own chip is considered just one step in his larger plans to move into AI chip production, say people familiar with the plans. (Techmeme Ride Home Podcast)
The House of Representatives held a plenary session on February 13th, during which Prime Minister Shigeru Ishiba reported on his visit to the United States. Regarding Nippon Steel’s planned acquisition of US Steel, he stated after the Japan-US summit that the two countries had "agreed on making a substantial investment rather than a takeover."
