Cancer drug pollution is a growing global concern 
Beijing is walking a fine line between support for Russia and not angering the west too much 
Nuclear subs are coming to Australia 
How supermarkets are changing their branding to make you think they’re cheaper 
Cheaper medicines and a new approach for mental health care 
It’s OK to mow in May − the best way to help pollinators is by adding native plants 
Newsrooms are experimenting with generative AI, warts and all 
UK ‘taking back control’ of its borders risks rolling back human rights protections 
Modi’s anti-Muslim rhetoric taps into Hindu replacement fears that trace back to colonial India 
The joy of birdwatching: research shows it can improve mental health and foster a sense of wellbeing 
Britain is not as broken as everyone seems to think 
Bank of Japan (BOJ) kept the monetary policy unchanged at today's announcement. BOJ is purchasing assets as per its qualitative and quantitative easing (QQE) at a pace of 80 trillion yen per year.
- Today's policy decision was not unanimous but was kept unchanged over 8-1 votes.
- Member Mr. Kiuchi voted against. He believes the previous purchase rate of 60-70 trillion yen was appropriate and inflation targeting of 2% within the timeframe of 2 years were appropriate. Recently BOJ dropped the timeline of target.
- BOJ will keep the purchase in line with previous guidance and will keep the average maturity at 7-10 years.
- Annual pace of purchase of ETFs and REITs will be about ¥ 3 trillion and ¥ 90 billion respectively.
- There will be no changes regarding commercial paper and corporate bonds and their size will be maintained at current ¥ 2.2 trillion and ¥ 3.2 trillion respectively.
- BOJ raised concerns over inflation but expects the current program is enough to reach the price target of 2% inflation and reiterates to keep the easing as long as necessary to reach the target.
BOJ press conference -
- President Haruhiko Kuroda, reiterated his confidence on the program to reach the inflation goal; however discussed the possibility of downtick in inflation in the short run.
- Mr. Kuroda, shrugged off any fear of overheating as Nikkei reached highest in 15 years and also any liquidity issue in the govt. bond market.
- He recognized the growth in real wages if the effect of tax hike is excluded.
Impact -
- Yen currently trading at 121.3 broke into new intra-day low as expectation of further easing gets diminished.
- However bulls may not find momentum for any substantial gain as FOMC looms large ahead in the week.
