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1. BOJ Governor: “JGB Purchases and Other Actions Will Not Directly Affect the Exchange rate.”
According to NHK, Bank of Japan (BOJ) Governor Kuroda met with Prime Minister Kishida on March 30 and exchanged views on domestic and international economic conditions and financial market trends. After the meeting, Governor Kuroda expressed his recognition that the BOJ’s monetary adjustments, such as purchases of sovereign bonds, have not had a direct impact on the exchange rate regarding the recent depreciation of the yen. They exchanged views on the impact of the CCP virus (new coronavirus COVID-19) and the economic situation in Japan and abroad in the wake of Russia’s invasion of Ukraine.
2. Electricity, Gas Bill for May increased, Electricity Bill at Highest Level in 5 Years
According to NHK on March 30, mainly due to the increase in import prices of fuel such as LNG (liquefied natural gas) and coal caused by the strained situation in Ukraine. The electricity rates of the five companies that have reached the ceiling will also rise by ¥146 to ¥8,505 per household. To prevent users having to bear too much of a burden, some contracts have a ceiling on electricity rates that allows the increase in fuel prices to be passed. The increase will be 24 yen. Electricity rates are expected to remain high in the future due to the rising trend in crude oil prices. Gas rates for May will also increase for all four major gas companies due to the rising price of LNG.
3. ANA: “General Staff Monthly Salary Cut by a Flat 5%, to Be Restored to the Original Level from April.”
According to NHK on March 30, Airline giant ANA has informed its labor union that it will return monthly salaries for general employees to their original levels starting next month, after having cut them uniformly by 5% in the past due to the CCP virus (new coronavirus COVID-19). The company claims that this is in response to the voices of employees who are anxious about their livelihood. The company has stated that the decision was made because it is necessary to respond to the voices of employees who are anxious about their lives as the company aims to return to profitability in the new fiscal year.
4. Defense Ministry to Research Offensive Drones, Presence in Ukraine Invasion
According to Sankei on March 30, the Ministry of Defense will launch a full-scale study for the operation of attack drones (unmanned aerial vehicles) in the next fiscal year. During Russia’s invasion of Ukraine, the Ukrainian military’s Turkish-made drone, Bayraktar TB2, showed its capabilities by attacking Russian surface-to-air missiles. Drone warfare is becoming a reality, but its introduction into the Self-Defense Forces is limited to reconnaissance types and is far from a full-scale introduction. Electronic warfare equipment to neutralize drones also made its presence felt. A Russian drone tried to destroy a Ukrainian drone base, but the Ukrainian electronic warfare equipment neutralized the drone by generating radio waves. The drones were prevented from seizing control of low altitude airspace up to 1 km above the ground, the main area of drone activity.
5. BOJ: Sharply increased regular JGB purchases for 30 days as a measure to curb rising interest rates
According to NHK, in addition to the unlimited purchases of JGBs on a temporary basis to be conducted through March 31, Bank of Japan (BOJ) also significantly increased its originally scheduled regular purchases of JGBs on March 30. In a clear indication of its stance to buy a large amount of JGBs and suppress interest rate hikes, BOJ temporarily lowered the long-term interest rate to 0.21%. It will conduct a temporary measure called “continuous limit operations,” in which it will purchase an unlimited number of JGBs with a maturity of 10 years at a yield of 0.25%, until the 31st to curb the rise in long-term interest rates.
6. Tokyo University to Temporarily Accept Ukrainian Students and Researchers
Following the Russian invasion of Ukraine, Tokyo University decided to temporarily accept students and researchers who had difficulty continuing their education and research, according to NHK on March 30. The University has decided to support the students and researchers by providing travel expenses, a monthly living allowance of approximately 80,000 yen, and free housing. They also plan to provide support in Japanese language classes and counseling. Tokyo University plans to announce the application guidelines for each faculty, graduate school, and research institute on its website after 30, and will establish an “Emergency Humanitarian Assistance Fund” to provide support for these students and researchers and will call for society cooperation.
【Himalaya Japan Galaxy- Alpha Planet】
Translator: Tagomi
Proofreading: Tagomi
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