IMF to BOJ: You are too optimistic on Japan The International Monetary Fund warned the Bank of Japan will take longer than it expects to hit its inflation target even with more monetary easing, and said "bolder" reforms are required.
DIARY- Top Economic Events to June 4 SINTRA, Portugal- European Central Bank board member Vitor Constancio chairs session 2 on "Structural Perspectives on European Employment, Productivity, and Growth in a Global Context" at an ECB forum on Central Banking "Inflation and Unemployment in Europe"- 0800 GMT. SINTRA, Portugal- Federal Reserve Vice Chair Stanley Fischer participates in a panel...
As ethanol boom fades, ADM sees bright future for corn in grocery aisle CHICAGO, May 22- The world's largest corn processor, Archer Daniels Midland Co, is shifting focus from its long-standing cash generator ethanol into developing new food ingredients as the biofuel boom that underpinned its financial success has cooled. "Coming up with new products is really what keeps us up at night," said Chris Cuddy, president of corn processing.
| By: Karl Plume
Apple's new plans for TV Apple is reportedly working on getting live programming from local TV stations onto its Apple TV. Insight, with Dawn Chmielewski, Re/code senior editor.
FOREX -Dollar rallies on U.S. price data, Fed's Yellen rate talk *Bank of Japan keeps policy unchanged, as expected. NEW YORK, May 22- The U.S. dollar turned higher on Friday, spurred off early losses after a U.S. inflation report that indicated underlying pressures are building bolstered the case for the U.S. "Stronger inflation, along with stronger growth data, is something that the Fed certainly wants to see," said Brian...
| By: Daniel Bases
IMF urges Japan to take 'bold action' on reforms, debt mess TOKYO- Japan needs "bold action" on revamping its economy and improving its precarious national finances, the International Monetary Fund says in its latest assessment of the world's third-largest economy. It said doubts about Japan's "long-term fiscal sustainability"- whether it can pay off its huge debt- could rise if investors lose confidence.
Source: The Associated Press
| By: By ELAINE KURTENBACH, AP Business Writer
IMF says BOJ, govt overly optimistic on Japan's economic prospects TOKYO, May 22- The International Monetary Fund warned the Bank of Japan will take longer than it expects to hit its inflation target even with more monetary easing, and said "bolder" structural reforms are required to shake off an entrenched deflationary mindset. In a statement after "Article 4" consultations with Japanese policymakers released on Friday, the IMF...
| By: Leika Kihara