The Japanese economy is “starting to recover modestly”, according to the latest assessment from the Bank of Japan (BoJ). It expressed cautious optimism as it left its recently-launched monetary easing programme unchanged.
“With regard to the outlook, Japan’s economy is expected to recover moderately on the back of the resilience in domestic demand and the pick-up in overseas economies,” read a statement issued by the BoJ.
It is the first time the BoJ has described the world’s third largest economy as being on the path towards expansion in more than two years, although it has been flagging up a steady improvement since the start of this year. The bank will continue its policy of pumping more than 60 trillion yen (JPY), (US$606bn; £402bn) per year into the economy.
BoJ governor, Haruhiko Kuroda, also reaffirmed that the central bank’s current monetary easing programme is sufficient to achieve a 2% inflation target in two years for Japan.
The top five sectors Asian fintech investors are interested in are data analytics, blockchain, lending, payments and regtech, according to Gary Hwa, EY regional managing partner.
On the third day of the Singapore Fintech Festival conference, there was a focus on specific applications of fintech innovation. One was trade finance, which is clearly is ripe for a revolution.
Kicking off day two of the Singapore Fintech Festival, Deloitte Chairman David Cruikshank said that fintech is significant for three reasons. First, customer expectations of services are higher than ever. Second, barriers to entry are lower than before. And finally, financial institutions (FIs) face a threat of what a competitor might do.
With rising interest rates being a hot topic at this year’s AFP conference, many treasurers were discussing how they can structure their ... read more