Band of Japan Deputy Governor Nishimura was also on the wires, reaffirming the BOJ’s dovish stance by saying it is important to persist with an accommodative policy to help sustain the economy's recovery. Though he expects Japan's economy to pick up further, he notes downside risks are still high adding that developed countries in general could face downwards pressure due to balance sheet adjustments.
Otherwise he notes it will take a while for inflation to go to the desired level, with annual CPI falls likely to continue for a considerable time. Financial conditions are said to be widely improving though, with the BOJ to decide on whether to extend its corporate support measures at the next Oct 30th policy meeting or later. Whilst on Japan, car-maker Honda commented on the fall of the dollar, saying that if it falls further then the company would need to secure key export markets other than the US to sustain production at its Japanese factories. Nissan also joined in with comments that it would use US-made cars for exports to “dollar countries” such as in the Middle East. Bear in mind that Japanese corporate had mostly budgeted a USDJPY rate closer to 95.0 than current levels for Q4 and current sentiment suggests such a level is well out of reach.
Otherwise he notes it will take a while for inflation to go to the desired level, with annual CPI falls likely to continue for a considerable time. Financial conditions are said to be widely improving though, with the BOJ to decide on whether to extend its corporate support measures at the next Oct 30th policy meeting or later. Whilst on Japan, car-maker Honda commented on the fall of the dollar, saying that if it falls further then the company would need to secure key export markets other than the US to sustain production at its Japanese factories. Nissan also joined in with comments that it would use US-made cars for exports to “dollar countries” such as in the Middle East. Bear in mind that Japanese corporate had mostly budgeted a USDJPY rate closer to 95.0 than current levels for Q4 and current sentiment suggests such a level is well out of reach.
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Central Banks Interest Rates
| US | 0.25% |
| UK | 0.5% |
| EMU / EURO | 1% |
| Japan | 0.1% |
| Switzerland | 0.25% |
| Canada | 0.25% |
| Australia | 3% |
| New Zealand | 2.5% |
| Sweden | 0.25% |
MyForexTime Twitter Updates
28.06.10
USA Personal income increased $53.7 billion...: http://digg.com/d31VHqK?t
28.06.10
Wall Street Hiring Jumps Most Since 2008...: http://digg.com/d31VHpY?t
28.06.10
G-20 Leaders Responds to European Debt Crisis With Deficit..: http://digg.com/d31VGbb?t
28.06.10
USA Q1 2010 Personal Consumption out at 3.0%...: http://digg.com/d31VGbQ?t
28.06.10
Advanced G-20 Countries economies will aim to halve deficits by 2013 and start to stabilize their debt-to-output ratios by 2016...
28.06.10
Today morning European session start with Sweden’s household lending and trade data followed by the series of German states reporting CPI...
28.06.10
The G-20 has to bridge a gap between leaders such as German Chancellor Angela Merkel who favor budget cuts and USA President Barack Obama...
28.06.10
China’s pledge of a more flexible Yuan will reduce the China’s exports in 2010-11, adding to difficulties that include the European debt...
28.06.10
The Bank Of England's (BOE) Financial Stability Report adopted a cautious tone, noting that...
28.06.10
Real GDP -- the output of goods and services produced by labor and property located in the US, increased at an annual rate of 2.7%...
15.04.10
Bernanke reiterated that he anticipates keeping US rates low: http://digg.com/d31OWyQ?t
15.04.10
US crude oil prices rose for the first day in six as US...: http://digg.com/d31OWxx?t
09.12.09
U.S. Dollar bulls have more to hope for in the short term...: http://digg.com/d31CIlQ?t
07.12.09
We expect that OPEC will leave oil production targets unchanged following the 22 December OPEC meeting...: http://digg.com/d31C3MY?t
04.12.09
European central bank left all three policy interest rates..: http://digg.com/d31Bmq0?t
03.12.09
USA ADP national employment report showed that private sector payrolls fell by 169,000 in November,..: http://digg.com/d31Bgam?t
03.12.09
Beige Book Informal review by the Federal Reserve Banks...: http://digg.com/d31BgVw?t
02.12.09
The Gold price jumped higher last night, The gold price peaked at above USD1,200/oz....: http://digg.com/d31BbAV?t
01.12.09
U.S. Dollar clawed back some of its losses...: http://digg.com/d31BVmY?t
01.12.09
The RBA rate meeting panned out as expected, with the RBA hiking rates another 25bp for the third meeting in a row http://digg.com/d31BVeM?t
