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Real-time News
January 22 – As Japan prepares for next months snap election, Munehito Kamiya, leader of a newly emerging minority party, stated that the Bank of Japans (BOJ) interest rate hikes may be too rapid and could harm the economy. He said the partys priority is to revitalize the economy through tax cuts, particularly the consumption tax, and loose fiscal policy. Kamiya said the BOJ should proceed cautiously with interest rate hikes given the still fragile economy. "I think the pace of interest rate hikes is a bit too fast," Kamiya said, warning that raising borrowing costs too early could harm the economy and small businesses. "Im not against the BOJs policy direction; the problem is the speed." Kamiya stated, "The division of power between the government and the central bank is quite important. On the other hand, in Japan, fiscal and monetary policies havent reached the level of cooperation they should." "Overemphasizing the BOJs independence could have a negative impact on the economy," he added.Reports indicate that Google will outsource the assembly of its TPU servers L10-L11 stages to Inventec.The yield on Japans 30-year government bonds fell 10 basis points to 3.62%.On January 22, it was reported that on January 21, local time, the Federal Court of Canada ruled to suspend the Canadian governments previous order requiring TikTok to shut down its Canadian operations, remanding the case to Canadian Industry Minister Mélanie Joly for review. This ruling means that TikToks Canadian operations can continue. A spokesperson for TikTok Canada welcomed the courts decision, stating, "We look forward to working with the Minister to find a solution that is in the best interests of our more than 14 million Canadian TikTok users. Retaining the Canadian team will help the company continue to grow, thereby supporting millions of dollars of investment in Canada and hundreds of local jobs."The yield on Japans 20-year government bonds fell 7.0 basis points to 3.185%.
