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Author: Subject: deal. Obama acknowledged that some
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posted on 10-10-2018 at 08:30 AM Edit Post Reply With Quote
deal. Obama acknowledged that some

TOKYO Cheap Harrison Butker Jersey , Sept. 21 (Xinhua) -- The Bank of Japan (BOJ) on Thursday opted to keep its aggressive monetary policy unchanged and maintained its view that the economy here is expanding moderately.


The central bank's policy board at a two-day meeting concluding Thursday also decided to keep purchasing government bonds to maintain the 10-year yield, with long-term interests rates at close to zero percent.


The decision was made by an eight-to-one vote by the policy board.


The BOJ also maintained the 0.1 percent interest on some funds that financial institutions park at the central bank.


The bank's policy board, in addition Cheap Daeshon Hall Jersey , opted to keep its bond buying at a pace of roughly 80 trillion yen (711.52 billion U.S. dollars), although economists have been quick to highlight the fact that the amount has actually dropped recently to around 60 trillion yen.


The central bank, despite its consistently aggressive and ultra-loose monetary policy Cheap Taylor Moton Jersey , is struggling to reach its lofty 2 percent inflation target, with the target date being pushed back multiple times as inflation has remained languid.


The central bank has pushed back its inflation target to around fiscal 2019, from its first projection of hitting the 2 percent goal in early fiscal 2015 Cheap Curtis Samuel Jersey , raising concerns among leading economists that the bank's multifaceted easing measures are not bearing fruit.


In addition, what central bankers here and economists have described as a "deflationary mindset" among the Japanese population has been another stumbling block the BOJ is struggling to deal with, with the phenomenon compounded by stagnant wages here and lackluster private consumption.


Economists have pointed out that Japan's most accurate barometer of inflation Cheap Kelvin Benjamin Jersey , the core consumer price index, has increased by a meager 0.5 percent in July on year, meaning the BOJ's ultimate goal remains somewhat elusive.


Market economists also noted Thursday that although Japan's gross domestic product expanded an annualized 2.5 percent in the three months through June and unemployment remained comparatively low in the latest recording period Cheap Star Lotulelei Jersey , the inflation target remains far-flung.


They added that the central bank has used most of its arsenal to boost inflation and has few policy options left after plunging its interest rate into negative territory at minus 0.1 and making its yield curve control initiative the nucleus of its easing framework.


The bank has said it would stick to its qualitative monetary easing (QQE) with yield curve control.


At the BOJ's latest meeting, also adding to its issues, their was one dissenter who disagreed with the bank's policy strategy Cheap Thomas Davis Sr Jersey , meaning the board member's vote on its latest policy initiatives was not unanimous.


New board member Goushi Kataoka, an economist and champion of aggressive easing, voted against the majority Cheap Greg Olsen Jersey , leading some economists to question whether a rift was forming within the bank's board members that could have a negative bearing on the timing of the bank's future policy moves.


The BOJ's moves are also running contrary to international central banks, with economists warning that prolonging its exit from its easing policy, and prior to that tapering its monetary policy Cheap Kawann Short Jersey , could negatively impact the financial markets and could lead to losses for the central bank.


By comparison, the U.S. Federal Reserve a day earlier announced it would start reining in its 4.5 trillion U.S. dollars asset holdings in October and will likely hike its rates again within a year.


The European Central Bank, meanwhile Cheap Trai Turner Jersey , has signaled that it is planning to aggressively taper its assets purchases.


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WASHINGTON, Aug. 2 (Xinhua) -- U.S. President Barack Obama on Tuesday vowed to push Congress to approve the Trans-Pacific Partnership (TPP) trade agreement despite opposition from presidential nominees in both parties.


"Right now, I'm president and I'm for it, and I think I've got the better argument," Obama said of the controversial Pacific trade deal during a White House press conference with visiting Singapore's Prime Minister Lee Hsien Loong.


Obama wants Congress to approve the TPP trade deal to cement his trade legacy before he leaves the White House on Jan. 20. But Republican presidential nominee Donald Trump and his Democratic rival Hillary Clinton have both expressed their opposition to the 12-nation deal.


Obama acknowledged that some past U.S. trade deals had not delivered on all the benefits that were promised and had very localized costs, but he urged Americans not to cut off globalization.


"The answer is, how do we make sure that globalization, technology, automation, those things work for us, not against us? And TPP is designed to do precisely that," he argued, adding that enforceable labor and environment provisions were included in the TPP trade agreement.


"Hopefully, after the election is over and the dust settled, there will be more attention to the actual facts behind the deal and it won't just be a political symbol or a political football," he said.


Senate Majority Leader Mitch McConnell said last month that chances for the TPP agreement to get a vote in Congress this year were "pretty slim," including in the so-called "lame duck" session after the November general election, suggesting that the upper chamber could wait until the next president takes office.


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