BoJ Retains Ultra-Loose Monetary Policy

Despite rising inflationary pressures, the Bank of Japan continued to maintain its ultra-loose monetary policy in contrast to the stance of its hawkish peers.

At the second rate-setting meeting chaired by new Governor Kazuo Ueda on Friday, policymakers unanimously voted to maintain a negative interest rate of 0.1 percent on current accounts that financial institutions maintain at the central bank.

The board also decided to continue to purchase a necessary amount of Japanese government bonds without setting an upper limit so that 10-year JGB yields will remain at around zero percent.

The board said it will “patiently” continue with monetary easing. The bank targets to achieve the price stability target of 2 percent in a sustainable and stable manner, accompanied by wage increases, the BoJ said.

Policymakers forecast consumer price inflation to decelerate towards of the middle of the fiscal 2023. Nonetheless, inflation is projected to accelerate again moderately with the improving output gap and rising medium-to long-term inflation expectations and wage growth.

The US Federal Reserve paused its rate hikes on Wednesday but remained hawkish. The European Central Bank raised its key rates by another quarter point on Thursday.

Earlier in a note, Capital Economics said the BoJ is unlikely to make major policy changes this year. The firm said the yield curve control may yet end next year.

Trek Recalls Promax Hydraulic Disc Brakes

Trek has recalled about 96,900 Promax hydraulic disc brakes sold on Trek bicycles due to the risk of a crash.

According to the Consumer Product Safety Commission, the brake hose can detach from the brake lever, posing a crash hazard.

The recall involves Trek bicycles with revision 1 of the Promax Solve DSK-925 and Promax F1 DSK-927 hydraulic disc brakes installed as original equipment on the bicycle models. The serial number is printed on a sticker underneath the frame of the bicycle. Additional details can be found on the CPSC website.

Trek said it has received 195 reports of brake hoses detaching from the brake lever in the United States. No injuries have been reported.

The company has asked its customers to immediately stop using the bicycles with the recalled brakes and contact their local authorized Trek dealer for a free inspection and repair.

The recalled bicycles were sold at Trek dealers nationwide and online at www.trekbikes.com from June 2021 through March 2023 for between $730 and $3,300.

PHOTOS: Coloradans see large hail as thunderstorm hits Thursday

The National Weather Service is warning that Thursday afternoon’s storms will be severe and could potentially produce large “baseball-sized” hail. NWS said at about 2 p.m. that the storm could hit the metro area in the next two to four hours.

For the latest news on the storm, read our live weather updates here. Share your photos of the storm with us by emailing [email protected].

Coloradans are already sharing photos of the large hailing raining down on social media.

Research Products Recalls Steam Humidifiers

Research Products has recalled about 40,000 steam humidifiers due to the risk of fire.

According to the Consumer Product Safety Commission, the recalled steam humidifiers containing a specific type of electrode wire with a “D” shaped connector can loosen causing arcing and/or overheating, posing a fire hazard to consumers. The company has recalled about 36,200 humidifiers in the U.S. and about 3,800 in Canada.

The company said it has received 103 reports of the recalled humidifiers overheating, including 10 incidents resulting in smoke or residential fires, totaling more than $10 million in damage.

The company has asked its customers to immediately stop using and shut off the recalled humidifiers and contact Research Products to receive a free electrode wire repair kit and assistance with identifying a qualified contractor to schedule an appointment for a free replacement of their electrode connector wires.

The recalled products were sold at HVAC contractors nationwide and online at Amazon.com, Sylvane.com, Supplyhouse.com, Humidifiers.com and other websites from June 2010 through January 2015 installed for between $2,000 and $3,500.

A Stir-Fry to Convert Green Bell Pepper Skeptics

In Chinese American pepper steak, crunchy panels of blistered peppers are the star.

By Eric Kim

European Economic News Preview: Eurozone Final Inflation Data Due

Final inflation data from Eurozone is the only major economic report due on Friday.

At 3.00 am ET, the Czech Statistical Office releases producer prices for May. Prices are forecast to grow 3.8 percent annually, slower than the 6.4 percent increase in April.

In the meantime, final inflation figures are due from Austria.

At 4.00 am ET, Italy’s Istat releases final consumer and harmonized prices for May. The flash estimate showed that consumer price inflation eased to 7.6 percent from 8.2 percent in April.

At 5.00 am ET, Eurostat publishes euro area consumer prices for May. The statistical office is expected to confirm 6.1 percent inflation for May, which was slower than April’s 7.0 percent.

At 6.00 am ET, producer prices are due from Portugal.

NBA draft tracker: Picks, updates and more live coverage 2023

Live coverage of the 2023 NBA draft from The Denver Post, including live updates, picks around the NBA and selections from the Denver Nuggets.