yen falls to 20-year low against the dollar As the Bank of Japan’s ultra-easy monetary policy weighed on the yen at a time when U.S. policymakers at the Federal Reserve signaled their intention to raise interest rates.

Wednesday’s loss of about 0.5 percent pushed the yen above 126 yen to the dollar, bringing the currency down nearly 9 percent so far this year.

The Bank of Japan’s pledge to continue stimulus measures to bolster Japan’s economy stands in stark contrast to the consensus among central banks around the world, especially the Federal Reserve, which expects policymakers to raise interest rates this year to stem a spike in inflation.

Japan’s stance also contrasts sharply with New Zealand’s, whose central bank raised interest rates by half a percentage point yesterday – Biggest increase in 22 years — After Russia’s invasion of Ukraine fueled fears of soaring inflation.

Thank you for reading FirstFT Asia. Do you think Japan should tighten monetary policy?Tell me what you think [email protected]. — Emily

Latest news on Ukraine war:

Five more stories in the news

1. The closure of Shanghai has caused anxiety in the global supply chain Dozens of key electronic component producers yesterday discontinued Their factory is in Kunshan, a city close to Shanghai. Companies and analysts said the shutdown was inevitable after the lockdown rules, which initially only applied to Shanghai, were extended to Kunshan.

2. Khan launches campaign against removal from office Imran Khan starts a defiant campaign Opposes his removal as Prime Minister of Pakistancalled on his thousands of supporters to “hold regular public protests” in pursuit of snap elections.

3. New York City arrests subway attack suspect Suspect in NYC subway shooting that wounded 10 and traumatized the city is arrested by police and sued in federal court. No incident occurred after Frank James, 62, was tipped off by a citizen in Manhattan’s East Village, police said.

• deeper: James’ exact motive remains unknown, but attack emerges deliberately upset a city Public safety has become a top concern for residents and businesses trying to recover from the pandemic.

4. South Korea signals nuclear fuel U-turn Outgoing President Moon Jae-in has pushed to reduce the share of nuclear power in South Korea’s energy mix, said Won Hee-ryong, the policy chief of President-elect Yoon Se-yeol’s transition council. Greenhouse gas emissions increase And threatened to increase energy bills.

5. New Zealand rules man charged with murder can be extradited to China New Zealand’s Supreme Court rules that a South Korean man accused of murdering a woman in Shanghai can Extradited to China for trialrights groups said the verdict put too much faith in Beijing’s diplomatic commitments.

the day ahead

Vaisakhi Sikh festival holiday marks the beginning of the holiday Punjabi New Year. (BBC)

Israel GDP Data Fourth-quarter growth figures are due today.It is expected that the national economy will 5.5% growth this year. (Reuters)

result Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo reported first-quarter earnings on a big day for Bank of America earnings. Ericsson, State Street and TSMC are also expected to report first-quarter results.

What are we still reading and listening to

Asia scrambles for rocket launch business In Japan’s Oita prefecture, the local airport has been grappling with the travel slump caused by the new coronavirus, renamed spaceport For aerial rocket launch. But rivals across Asia are also joining the Earth-based space race.

Biden and Ukraine: From climate champion to oil scare US President Joe Biden was elected with a bold plan for a green transition.But ahead of the midterm elections, he faces energy crisiswrites our US energy editor Derek Brower.

Breaking the Silence on Workplace Disability Issues The FT’s Working It podcast is about working in a different way. This week, host Isabel Berwick argued that while we hear a lot about diversity and inclusion in the workplace, one group is often left behind: disabled.

The rise of xenophobic vigilantes in South Africa this Brutal murder of Mbhodazwe “Elvis” NyathiThose beaten and left to burn in the streets underline the rise of xenophobic vigilantes as an organised political force in South Africa as President Cyril Ramaphosa’s government sees its authority waning and struggles to reverse A flagging economy.

property

Price per square foot, school zones and good transit connections have long been at the top of most potential homeowners’ checklists. Now, however, there is a completely less obvious factor when it comes to homebuyers deciding where to move: the air they breathe.