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"president yun soki al" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

05:19 min | 8 months ago

"president yun soki al" Discussed on Bloomberg Radio New York

"Mildly so with the ASX 200 better by a tenth of 1%. We'll take another look at markets for you. In about 15 or so here on daybreak Asia. Let's update global news next Ed Baxter in the Bloomberg newsroom in San Francisco Eddie. All right, thank you very much to the song Kong may soon scrap PCR test requirements for arrivals from China. That's a Hong Kong times report. Lawmakers have called for a switch to rapid antigen tests. South Korea president Yun soki Al's office has clarified statements that the ROK may need to acquire nuclear weapons saying it has not made any plans to do so. It got major pushback from the United States. Pentagon says it is struggling to get China to resume military to military talks, German Chancellor Olaf scholz says Germany believes that globalization is the thing that needs to be done and needs to go. It's a future of the globe and tells Bloomberg's John micklethwait the China is part of that. Schultz says Germany will support Ukraine as long as there is need, and the mayor of key vitali, Klitschko in Dallas, with Bloomberg's David Weston says that the fight to keep infrastructure is intense and former U.S. Secretary of State Henry Kissinger is reverse course on Ukraine, says now he believes Ukraine joining NATO could be an appropriate outcome. In San Francisco, I'm Ed Baxter. This is Bloomberg to Sydney Paul. All right, thanks very much. Well, the bank of Japan delivers a much away policy decision today, joining us live from outside the bank of Japan is Kathleen Hayes, Bloomberg news at global economics and policy editor. Kathleen knew have been following and covering many central banks, including the BOJ for a very long time. Can you recall a meeting? There was this interesting. Well, no, certainly not from the bank of Japan. I mean, I always find the interesting and we all do. But I would say it's beyond interesting. It's kind of exciting, isn't it? Because in December, the shock move to white and the yield curve control ban that keeps their benchmark ten year government bond between it was 0.25 on either side of zero. Moved it to 0.5 on either side. Is there a wool markets exposure? Because not only did they make the were they surprised, but does this mean the bank of Japan has embarked on a policy move of exiting extraordinary stimulus, the policy basically of the last ten years. That reverted markets on that day, it could be right again, even if they move because then bond markets are doors open to even higher yields in Japan. That could feed over to the rest of the world. If they don't move, well, then there's the uncertainty of, and particularly with the yen, the Jensen strengthening, they're all kind of long positions people probably a lot of them square it up ahead of this because whatever the BOJ does, it's a big deal. From the BOJ's standpoint, do you think that they see what they did in December as having been successful? That's a good question. I think there's a debate how successful it was. They shot the markets. They did it according to Martin schulz and Ed Rogers who I spoke to earlier today here in Tokyo. That quiet time, December, let's do this and not rock the markets too much. Well, they did want the markets. And furthermore, they've been more blind investors on traders have been pushing against the top of the band. They push the ten year JGB above .5. And then so the BOJ has been had to go into ever higher records of bond purchases. So was that successful? Will this mean that or will they say, well, will they say we've done too much? We don't need to do any more than new governor case over in April way for that. I think it's an open question. Yeah, you mentioned that traders have been tasting the BOJ that's something one of our earlier guests said Rogers said Rogers investment advisers suggested as well as the BOJ at risk care of losing control of the narrative. Well, I have they already. I think that's I think nobody really knows at this point. If the narrative is, we are opening the door and we're keeping things trying to steady the boat until the next governor takes over and takes and then has to take the big more definite steps from removing stimulus and YCC and even getting rid of YCC yoke of control. Then that is a narrative that they'll have to reinforce today, Paul. I think that's maybe one of the challenges communication right now for governor Corona when they put out their policy statement also when he has his big press conference after the meeting for porters are going to pound him with all of these questions. Yes, I think what's interesting is bank of Japan overall is kind of seen as conservative yet. Corona son he does like to surprise the markets in 20 seconds. What's the interesting aspect to that? Oh, are you rooting for a surprise? Another step towards something that could maybe that would get high enough for people not to keep pushing on the BOJ. And at the same time, even though governor kroda on December 20th, the last meeting where they had the shock or made the shock. He said, this was a tweak, it's not a raid hike. We're not moving things yet. But it would be clear that they are on this path. It's something that has been probably even condoned by the new prime minister's government. A lot of behind scenes talks are what people think have been going on. So it would be a very powerful signal and a very interesting one at that. Absolutely. Kathleen, thank you very much for joining us. This

BOJ Ed Baxter Bloomberg Ukraine Bloomberg newsroom Hong Kong times president Yun soki Al Olaf scholz South Korea John micklethwait key vitali David Weston Secretary of State Henry Kissi China Kathleen Hayes San Francisco Germany Klitschko United States