The Bank of Japan (BOJ) has today revised its growth forecast for the economy following the earthquake and tsunami which struck in March. The twin disasters forced the country back into a recession after industrial output suffered a record drop and spending dived as consumer and business confidence took a battering. The Japanese economy, which [...]
The Bank of Japan’s (BoJ) closely watched quarterly Tankan survey has revealed business confidence has plunged after March’s earthquake and tsunami. The index turned negative for the first time in more than 12 months with companies gloomy about the future. The key index fell to a reading of -9 from a positive reading of 6 [...]
As widely expected, the Bank of Japan (BoJ) has today left interest rates in the range of zero to 0.1%, in a bid to boost the economy following the twin disasters which hit the north-east part of the country last month. The country is battling to restore calm after an 8.9 magnitude earthquake and tsunami [...]
As widely expected, the Bank of Japan (BoJ) has today left interest rates in the range of zero to 0.1%, in a bid to boost the economy following the twin disasters which hit the north-east part of the country last month. The country is battling to restore calm after an 8.9 magnitude earthquake and tsunami [...]
Japanese shares rose more than 3% earlier today following some much needed good news. Stock markets were boosted by the news that Japanese carmakers, Toyota and Honda, may restart production this week, while it was revealed that progress is being made in containing radiation leaks. In the aftermath of the earthquake and tsunami on 11 [...]
The Japanese Government has spoken of the 8.9 magnitude earthquake and the 13-foot tsunami which hit the northeast coast of Japan last week. Prime Minister, Naoto Kan, described it as the worst crisis since the Second World War. The disasters are set to cause “considerable” economic impact as the country faces a massive clean-up operation, [...]
Official figures show Japanese core consumer prices fell 0.2% in January compared with a year ago – representing the 23rd consecutive monthly decline that the world’s third largest economy has been in deflation. A short period of deflation (where prices fall rather than increase) could be a serious threat to the economy because it deters [...]
The Bank of Japan (BOJ) has today said the economy is emerging from a slowdown and is optimistic about future prospects. The statement comes just a day after figures revealed Japan’s economy, which is now the world’s third largest, contracted by 0.3% in the final three months of 2010. While it was marginally less than [...]
Government data has today revealed Japanese exports picked up in November – for the first time since February. Exports grew 9.1% to 5.44 trillion yen in November on an annual basis, against the 7.8% reported in October. However, the figure was still short of expectations for a 10.8% gain. The improvement was attributed to strong [...]
The Bank of Japan (BoJ) has today left interest rates at almost zero, in a bid to boost the economy and continue its battle against deflation. The Japanese recovery has been faltering of late and exports, a crucial driver for economic growth, continue to slow. In addition, a strong yen could be damaging for the [...]
The Bank of Japan’s (BoJ) closely watched quarterly Tankan survey has revealed business confidence has dipped – hit by a strong yen and slowing exports. The influential Tankan index revealed business confidence among major manufacturers fell for the first time in almost two years. The Tankan figures are closely monitored by the BoJ when deciding [...]
The Bank of Japan (BoJ) has today left interest rates at almost zero, in a bid to boost the economy and continue its battle deflation. The move follows its surprise decision last month to cut interest rates to this level. The Japanese recovery has been faltering of late and exports, a crucial driver for economic [...]
The US dollar has fallen to a fresh 15-year low today against the Japanese yen and also fell against the euro. Many are calling this week “the busiest week in decades” as interest rate decisions are expected across the globe. US central bank, the Federal Reserve, could be set to provide extra stimulus to strengthen [...]
The Ministry of Economy Trade and Industry has revealed Japanese industrial output fell in September – the fourth consecutive monthly fall. Figures show output fell 1.9% in September compared with the previous month – way below expectations of a 0.6% fall. However, the fall was attributed to the strong yen, which is weakening demand for [...]
The Bank of Japan (BoJ) has today opted to keep interest rates on hold between zero and 0.1%. The move comes just weeks after the Bank surprised analysts and cut rates to this level. The measures come as the economy continues its battle with deflation. Deflation is also a concern for the Japanese economy. Recent [...]
Concern has been raised for Japan’s recovery today after the Cabinet Office said the economy is at a standstill, attributed to the rising yen, which is weakening demand for exports. As a result of a rising yen, the Bank of Japan (BoJ) intervened to stem the currency against the US dollar – the first time [...]
Japan’s Prime Minister, Naoto Kan, has today said he is “very concerned about the currency situation” as the yen continues to strengthen against the US dollar. The Japanese yen is currently hovering around 15-year highs against the dollar. Last month, the Bank of Japan (BoJ) intervened to stem its currency against the dollar – the [...]
China has today hit back at the US saying it will continue to reform its currency policy – but at its own pace. The US has been pressuring China to let the value of its currency, the yuan, appreciate against other currencies. In June, Beijing loosened its currency peg and, while the move was welcomed, [...]
Japanese core private-sector machinery orders – a highly volatile series seen as an indicator of corporate spending – surged 10.1% in August – confounding expectations of a 4.5% fall. The increase in orders represented the third consecutive monthly rise, according to the Cabinet Office, and follows June’s 1.6% increase and July’s 8.8% growth. The surprise [...]
The Bank of Japan has today cut interest rates to almost zero, in a bid to boost the economy and continue its battle deflation. Last week, figures revealed Japanese core consumer prices fell 1.0% in August compared with a year ago – representing the 18th consecutive monthly decline that the world’s no.2 economy has been [...]
Gender directive could slash men’s annuity payouts
The EU Gender Directive, which came into force today, could see men losing up to £10,000 from their annuity payouts, according to research by PricewaterhouseCoopers. Under the new rules insurers are no longer allowed to take gender into account when setting annuity rates and premiums on insurance products. Men previously enjoyed higher annuity rates than [...]
Home rental costs down in November
The cost of renting a house in England and Wales fell by 0.4 per cent in November, its first dip since March, according to a survey by LSL Property Services. Average rent was £741m during the month, returning to the level seen in September. However, it was 3.4 per higher than in November last year. [...]
Lloyds TSB halts sale of packaged accounts in branches
Lloyds TSB will stop selling packaged account in its branches from 1 January 2013, until its sales procedures are brought into line with those operated by sister bank The Halifax. Lloyds TSB is one of the main providers of packaged accounts in Britain, with around one in three of its customers choosing to pay fees [...]
Housing market recovery to continue next year
Recent improvements in the housing market should continue into next year, according to the Council of Mortgage Lenders (CML) Gross lending is estimated to have increased to £12.9 billion in November, helped by the Funding for Lending scheme which provides banks and building societies with lower-cost funding, which they are then supposed to pass on [...]
Newcastle Building Society exits interest-only mortgages
Newcastle Building Society has stopped offering interest-only mortgages to new borrowers, following the lead of the Royal Bank of Scotland, Nationwide, Co-operative bank and Coventry Building Society. The decision will not affect existing Newcastle customers and applications for interest-only mortgages received before 14 December will still be processed. Prior to the credit crunch, interest-only mortgages [...]
Less than half of Brits considered creditworthy
Fifty-seven per cent of UK adults are at risk of having an application for credit turned down by a mainstream lender according to a new report. The ‘Mind the Credit Gap‘ report commissioned by aqua credit cards suggests that even people with a good credit rating and earning more than £50,000 could have a credit [...]
Monthly incomes £22 lower in 2012
The average monthly income of UK households fell by £22 in real terms compared with last year, according to a survey carried out for the Bank of England (BoE) by NMG Consulting. People on lower incomes have seen their income eroded more than higher earners and households still have high levels of debt the BoE [...]
Savers dig deep to fund Christmas
New research from the Halifax suggests that savers are funding their Christmas spending with money set aside for other purposes. Thirty-seven per cent of 2,138 savers surveyed by the bank at the end of November had withdrawn savings in the last three months. The average amount withdrawn was £1,186, more than double the average savings [...]
Financial data at risk from unsafe passwords
According to a survey by the Payments Council the problem of having to remember a different password for several accounts means that many internet users are compromising the security of their financial data. Internet users have 22 password-protected accounts on average and many use the same log-in details for more than one account, even though [...]
Wonga launches Paylater loans on retailer website
Payday loan company Wonga has launched a new Paylater service on furniture firm Cotswold Company’s website. The service, which allows customers to “buy now, pay later” will be introduced on other retailers’ sites in the near future. Although the Paylater branding is similar to Wonga’s, the Wonga name only appears in the small print. A [...]
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