Tag: Called

Some in BOJ called for review of strategy to achieve elusive price goal

By Leika Kihara

TOKYO, Sept 29 (Reuters)Some Bank of Japan board members called for a review of the central bank’s policy strategy as the economic shock caused by the coronavirus pandemic pushes inflation further away from its target, a summary of opinions from a September meeting showed.

Those views underline the increasingly tough position the BOJ finds itself in, as inflation had failed to gain momentum even before the coronavirus ravaged Japan’s economy.

A few of the board members said the central bank may need to find a new approach to fire up inflation toward its 2% target, given the pandemic’s sweeping impact on companies and households.

“As economic developments change rapidly, it’s becoming hard to foresee inflation reaching our target. It’s thus necessary to conduct again a comprehensive examination of our strategy for achieving the price goal,” one member said.

“We may need to debate the

Read More

Visa, Mastercard called upon to cut ties with Palestinian terror funding

Mastercard and Visa have been warned to immediately cut ties with banks operating in the West Bank or risk legal liability for funding terror. They have also been advised not to provide services for a new bank being set up by the Palestinian Authority, as it is being created explicitly for the purpose of continued terror funding. Since its creation in 1994, the PA has paid monthly salaries to terrorists and the families of killed terrorists in so called ‘pay for slay’ payments. These payments to date have been processed through banks operating in the PA controlled territory. However, recent Israeli anti-terror legislation which applies to the PA-controlled areas in the West Bank prohibits, inter alia, any bank transaction that funds, promotes, assists, or rewards the performance of an act of terror.Following the law change in May, banks in the West Bank initially moved to close terrorists’ accounts to avoid
Read More