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On December 17th, former Bank of Japan Deputy Governor and government policy team member Masazumi Wakatabe stated, "Japan must raise the neutral interest rate through fiscal policy and growth strategy. If Japans neutral interest rate rises due to fiscal policy, a rate hike by the Bank of Japan would be a natural consequence. However, the Bank of Japan should avoid raising rates prematurely and excessively tightening monetary policy at present." Analyst Justin Low expressed reservations about this comment, as he is a member of the government team appointed by Prime Minister Sanae Takaichi. Therefore, his remarks and inclinations suggest he is on the side of the government and attempting to oppose the Bank of Japans intention to raise interest rates later this week.Masazumi Wakatabe, former deputy governor of the Bank of Japan and member of the government task force: "Takashi Economics" inherited some elements of "Abenomics", but focused more on strengthening the supply side of the economy.Former Bank of Japan Deputy Governor and Government Panel member Masazumi Wakatabe: If Japans neutral interest rate increases due to fiscal policy and growth strategy, the Bank of Japan can naturally raise interest rates.Former Bank of Japan Deputy Governor and Government Panel member Masazumi Wakatabe: Given the neutral interest rate level, the Bank of Japan should avoid raising interest rates too early and over-adjusting monetary support.Former Bank of Japan Deputy Governor and Government Panel member Masazumi Wakatabe: If funding demand increases, the neutral interest rate will rise.

Global crypto rules needed to keep markets clean, says UK watchdog

Cory Russell

Jul 15, 2022 14:57

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International crypto companies like Binance must be governed by global laws in order to "keep markets clean," according to a statement made on Thursday by the British Financial Conduct Authority.


The majority of the world's cryptocurrency companies are unregulated, but several nations want proof that they have effective safeguards in place to thwart money laundering.


The biggest cryptocurrency exchange in the world, Binance, was told by the FCA last year that it was "not capable of being adequately monitored" and so could not engage in any regulated activity in Britain.


Regulators in Spain, France, and Italy have this year given Binance permission to operate in those countries' domestic marketplaces.


In answer to a query on whether authorities are being pitted against one another by cryptocurrency startups, FCA Chief Executive Nikhil Rathi said at the Peterson Institute for International Economics in Washington, "I believe some global baseline norms are vital."


The clean markets that we all want depend on having excellent shared regulatory standards and information sharing across borders, according to Rathi. "As we have seen in other domains like anti-money laundering, these are essentially cross-border actions by some very well organized players," he added.


After rejecting applications from a large number of organizations, the regulator has come under fire from the cryptocurrency industry.


We will always be vigilant about consumer protection when it comes to cryptocurrencies, Rathi stated.

Rathi said that, regrettably, the FCA's long-ago warning that holders of crypto currencies may lose all of their money has come true after the recent decline in the price of bitcoin.


A global regulatory agency, the Financial Stability Board, said this week that it planned to provide draft proposals for regulating crypto assets to G20 nations in October.


Earlier this month, a French member of the European Parliament asked the French market regulator to reconsider its decision to register Binance.

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