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Spread the love ASIA: The Bank of Japan kept monetary policy steady on Thursday and revised its economic forecast for the next fiscal year, signaling that it has delivered sufficient stimulus, for now, to cushion the blow from the COVID-19 pandemic, Reuters reported. As widely expected, the central bank kept unchanged its target for short-term interest rates at -0.1% and that for 10-year government bond yields around 0% in a two-day rate review. In a quarterly review of its projections, the BOJ trimmed its economic forecast for the current year ending in March to a 5.6% contraction from the p...

1/22/2021 5:29:39 AM GMT ASIA The Bank of Japan kept monetary policy steady on Thursday and revised its economic forecast for the next fiscal year, signaling that it has delivered sufficient stimulus, for now, to cushion the blow from the COVID-19 pandemic, Reuters reported. As widely expected, the central bank kept unchanged its target for short-term interest rates at -0.1% and that for 10-year government bond yields around 0% in a two-day rate review. In a quarterly review of its projections, the BOJ trimmed its economic forecast for the current year ending in March to a 5.6% contraction fr...

Spread the love ASIA: Despite claims of an economic recovery, Chinese state-owned companies are defaulting on their debts. A string of missed debt repayments by major firms has shaken local as well as global markets. State firms defaulted on a record $6.1 billion worth of bonds between January and October, according to Fitch Ratings. That’s about as much as the last two years combined. The development has rattled China’s nearly $4 trillion corporate debt market, of which state-owned enterprises are estimated to account for more than half. At least 20 firms suspended plans for new debt iss...