Tokyo, 29 April, /AJMEDIA
Yen falls to 20-year low in 130 zone vs. dollar after BOJ meeting
TOKYO – The Japanese yen slumped to the 130 range against the dollar on Thursday for the first time since April 2002, after the Bank of Japan maintained its ultraeasy monetary policy at its board meeting in sharp contrast to the U.S. central bank that has raised interest rates.
The yen was trading in the upper 130 range in the afternoon in Tokyo, plunging from the lower 128 zone quoted in the morning after the BOJ underlined its resolve to keep rates at rock-bottom levels.
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U.S. economy sees Jan.-March contraction, but consumer spending solid
WASHINGTON – The U.S. economy shrank an annualized real 1.4 percent in the January to March period, its first contraction in nearly two years, Commerce Department data showed Thursday, but solid consumer spending despite a resurgence in coronavirus cases and higher inflation provided signs of resilience in domestic demand.
The shrinkage of the inflation-adjusted gross domestic product was unexpected, with the average market forecast having been a 1.1 percent growth. The world’s largest economy had continued to grow after diving 31.2 percent in the April-June quarter of 2020, during the early stage of the coronavirus pandemic.
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U.S., Japan, EU push for open internet amid rise of authoritarianism
WASHINGTON – The United States, Japan and the European Union on Thursday endorsed a declaration to promote an open and free internet amid concerns over what they view as “digital authoritarianism” seen in countries such as Russia and China.
According to the U.S. government, some 60 partners around the world, including the Group of Seven industrialized nations, Australia, Taiwan and Ukraine, joined the launch of the initiative, which opposes the use of digital tools to repress freedom of expression and deny other human rights and fundamental freedoms.
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BOJ stands pat on ultra-low rate policy, yen tumbles
TOKYO – The Bank of Japan on Thursday underscored its resolve to persist with ultraeasy monetary policy and vowed to rein in rising long-term interest rates, judging that recent inflation, driven by surging raw material costs amid the war in Ukraine, will not last and its 2 percent target remains elusive.
The yen tumbled to fresh 20-year lows below 130 and then 131 to the U.S. dollar after the no-change decision at a two-day policy meeting, raising concern about increased import costs for resource-poor Japan.
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Japan’s lower house urges gov’t to ease Okinawa’s base-hosting burden
TOKYO – Japan’s lower house on Thursday adopted a resolution urging the government to reduce the burden on Okinawa in hosting the bulk of U.S. forces in the country, in a move that marks the 50th anniversary of the southern island prefecture’s reversion to Japanese rule.
The resolution was adopted at a time when defense experts fear for the security of the base-hosting prefecture amid increasing challenges facing the Japan-U.S. alliance in light of situations such as cross-strait tensions between Taiwan and China and the ongoing Ukraine war.
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Japan, Germany leaders to launch panel to reinforce security ties
TOKYO – Japanese Prime Minister Fumio Kishida and German Chancellor Olaf Scholz agreed Thursday to set up an intergovernmental panel involving the two leaders to further beef up their security ties, as Russia’s invasion of Ukraine poses new security challenges to the West.
Kishida told a joint press conference after their meeting in Tokyo that they confirmed plans to hold the panel’s first meeting next year. They pledged to oppose unilateral attempts to alter the status quo by force in the East and South China seas, where China has been intensifying maritime assertiveness.
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ANA forecasts return to profit in FY 2022 amid recovering demand
TOKYO – ANA Holdings Inc. said Thursday it plans to return to the black for the business year ending next March, after posting massive losses the past two years, as it expects travel demand to recover from the fallout of the COVID-19 pandemic.
The parent of All Nippon Airways Co. expects a net profit of 21 billion yen ($164 million) in the current fiscal year, due to increasing bookings for domestic and international flights following the Japanese government’s easing of anti-virus measures. Revenue is projected to be 62.7 percent higher at 1.66 trillion yen.
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Baseball: Angels’ Ohtani gets win, has 1st three-hit game of 2022
ANAHEIM, California – Shohei Ohtani showed power at the plate and on the mound as the Los Angeles Angels beat the Cleveland Guardians 9-5 Wednesday night in a 25-hit slugfest.
Ohtani (2-2), making his fourth pitching start this year, survived a rough beginning to deliver the win, the Angels’ fourth straight. The Angels moved into first place in the American League West, a half-game ahead of the Seattle Mariners.
