• 5 minutes Rage Without Proof: Maduro Accuses U.S. Official Of Plotting Venezuela Invasion
  • 8 minutes What Can Bring Oil Down to $20?
  • 14 minutes Paris Is Burning Over Climate Change Taxes -- Is America Next?
  • 4 hours Alberta govt to construct another WCS processing refinery
  • 6 hours Let's Just Block the Sun, Shall We?
  • 2 hours Venezuela continues to sink in misery
  • 6 hours Instead Of A Withdrawal, An Initiative: Iran Hopes To Agree With Russia And Turkey on Syrian Constitution Forum
  • 1 day U.S. Senate Advances Resolution To End Military Support For Saudis In Yemen
  • 4 hours Water. The new oil?
  • 1 day Quebecans Snub Noses at Alberta's Oil but Buy More Gasoline
  • 2 days OPEC Cuts Deep to Save Cartel
  • 29 mins USGS Announces Largest Continuous Oil Assessment in Texas and New Mexico
  • 4 hours Regular Gas dropped to $2.21 per gallon today
  • 2 days $867 billion farm bill passed
  • 1 hour Will Libya Ever Recover?
  • 2 days Global Economy-Bad Days Are coming
Alt Text

Russia May Feel Pinch From Oil Cut Deal This Year

Russia’s central bank warned that…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Trending Discussions

Japanese commercial banks are hurting. Will the government step in with more bailouts?

Sometimes the briefest bits of information are the most critical.

The Bank of Japan today put out its usual one-page summary for the April meeting of its Policy Board.

The summary begins normally, noting that Japan is faced with overcoming deflation and returning to price stability. This has become fairly common language from the Bank.

And, as expected, the Policy Board will continue to hold interest rates at an ultra-low 0.1%.

But something unusual comes at the end of the BOJ's note. Just a few sentences (emphasis mine):

"It was also confirmed that it would be necessary to strengthen the foundations for economic growth given the current economic conditions in Japan. Based on this recognition, members shared the view that it was necessary for the Bank to make new efforts to contribute to strengthening the foundations for economic growth.

In light of these discussions, the Chairman has instructed the staff to examine and report on another occasion, on possible ways to support private financial institutions in terms of fund provisioning with a view to strengthening the foundations for economic growth."

Translating the Bank's verbosity: Japanese commercial banks are hurting. The government needs to step in with more bailouts.

Troubled banks are something we've largely stopped hearing about over the last several months. Interesting that the problem is rearing back up in one of the world's largest economies.

By. Dave Forest of Notela Resources




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News