Japan attained its second-biggest current account surplus on record in 2016, Ministry of Finance data showed on Wednesday.
Optimistic economic forecasts and monetary policy settings that haven’t changed since September lend an aura of calm and control to the Bank of Japan. The problem is, much of what’s been going right lately — and a lot of what could go wrong this year — are beyond its control.
The Bank of Japan raised its economic growth forecasts, but kept its policy unchanged, as was widely expected.
The Bank of Japan is set to keep monetary policy steady on Tuesday and seek to allay speculation of an early tapering of its massive stimulus, as recent bond market turbulence puts to the test its revamped policy framework that aims to control the yield curve.
The Bank of Japan left policy unchanged on Tuesday at the conclusion of its two-day policy meeting, as widely expected.
The only expected major news event is Bank of Japan’s monetary policy meeting, scheduled to conclude ahead of Tuesday’s U.S. trading session.
Putin said on Friday that reaching a World War Two peace deal with Japan was more important than Russia’s economic interests.
Japan has dethroned China to be the top holder of U.S. government debt, as the Chinese central bank dipped into its currency reserves to support the yuan.