Deep Dive Series: "What Next After the BOJ? The Coming Crunch in Financial Markets"
8:30-10:00 am, Thursday, March 28, 2024
(The speech and Q & A will be in English.)

Paul Sheard: Author of The Power of Money and former research fellow at Harvard Kennedy School
Sayuri Shirai: Former Bank of Japan Policy Board member
Richard Katz: Author of "The Contest for Japan's Economic Future: Entrepreneurs versus Corporate Giants"
Naomi Fink: Global Strategist, Nikko Asset Management

Markets have been obsessed lately with the level of interest rates - the perceived need to cut them in the US and elsewhere or to raise them in the case of Japan. Where stock markets go from here appears to hinge mainly upon where interest rates are headed. Central banks are seen as arbiters of the short to medium-term fate of markets and of the global economy. But the “stickiness” of inflation in leading economies is due to factors going beyond central bank policies and which are deeply rooted in the global economy. In the wake of the Bank of Japan’s historic decision on March 19 to end its negative interest rate policy, the FCCJ’s latest Deep Dive event will probe where interest rates and leading economies and markets also are likely headed from here.

PAUL SHEARD is author of The Power of Money: How Governments and Banks Create Money and Help Us All Prosper (Matt Holt Books). He was formerly global chief economist at Lehman Brothers in New York, Vice Chairman of S&P Global and Research Fellow and M-RCBG Senior Fellow at Harvard Kennedy School.

SAYURI SHIRAI is Professor at the Faculty of Policy Management, Keio University and a former member of the Bank of Japan Policy Board. Professor Shirai is also an Advisor for Sustainable Policies at the Asian Development Bank Institute and an advisor to Nomura Research Centre for Sustainability and Nisshin Oillio Group.

RICHARD KATZ is a Senior Fellow at the Carnegie Council for Ethics in International Affairs, as well as a Special Correspondent for Weekly Toyo Keizai. He publishes a free blog called “Japan Economy Watch.” His new book, The Contest for Japan’s Economic Future: Entrepreneurs vs. Corporate Giants, is published by Oxford University Press.

NAOMI FINK joined Nikko Asset Management in December 2023 as Global Strategist and Managing Director. Prior to joining Nikko AM, Fink held senior macroeconomic and strategy research positions at global banks and brokerages, including Bank of Tokyo Mitsubishi UFJ, BNP Paribas and UBS, and later Chief Japan Strategist at Jefferies Japan Limited.

Please indicate when signing up whether you will attend on-line or in-person.

In-person attendance: Members 450 yen, non-members 1,650 yen (with coffee or tea, tax included)
On-line attendance (via Zoom): Members free of charge, non-members 550 yen (including tax). Details on how to join online will be sent to individual emails by March 26.

All participants can reserve at the reception desk by email Members should log in to confirm attendance. Payment by non-nembers must be made in advance by 3pm,Tuesday, March 26, 2024. No refund is available unless the event is cancelled by FCCJ. Member reservations cancelled less than 24 hours before the event will be charged in full.

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