BOJ's Nakaso says won't rule out deepening negative rates
Bank of Japan Deputy Governor Hiroshi Nakaso said the central bank would not rule out deepening negative interest rates or any other easing steps needed to achieve its price target.
Nakaso said the BOJ's comprehensive assessment of its policy effects to take place later this month will look at ways to accelerate achievement of its 2 percent inflation target. It will not discuss ways to withdraw its ultra-loose monetary policy.
Nakaso declined to comment about speculation that the BOJ could resort to buying foreign-currency denominated bonds. He ruled out targeting the foreign exchange market with monetary policy.
U.S. household income posts record surge in 2015, poverty falls
U.S. household income posted a record increase in 2015 after years of stagnation, suggesting the recovery from the Great Recession was finally lifting ordinary citizens who had been largely left behind.
The Census Bureau said on Tuesday that median household income surged 5.2 percent last year to $56,500, the highest since 2007, in large part due to solid employment gains. The jump was the biggest since record keeping began in 1968.
Trudi Renwick, an assistant division chief at the Census Bureau, said on a conference call with reporters it was striking that median household income rose across the board. "It's up for almost every age group of household heads. It's up for almost every racial group," except Asians, she said.
President Barack Obama hailed the report as evidence that his administration's economic policies were paying off, but said more needed to be done to put unemployed Americans back to work.
Oil prices rebounded
Oil prices rebounded on Wednesday after falling by as much as 3 percent in the previous session, as data from an industry group showed a smaller-than-expected build in U.S. crude stockpiles.
The American Petroleum Institute (API) reported a crude build of 1.4 million barrels for the week ended Sept. 9, smaller than the 3.8 million barrel rise expected by analysts. The U.S. government will issue official inventory data later on Wednesday.
U.S. West Texas Intermediate futures were up 38 cents, or 0.9 percent, at $45.28 a barrel.
Reference: Reuters
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