Daily Archive: July 10, 2020

BOJ to hold fire, stick to cautious optimism on economic outlook By Reuters

© Reuters. Bank of Japan Governor Haruhiko Kuroda speaks during a news conference, in Tokyo

By Leika Kihara

TOKYO (Reuters) – The Bank of Japan (BOJ) is set to keep monetary policy steady next week and offer a cautiously optimistic view on the economic outlook, signaling it has taken enough steps for now to cushion the blow from the coronavirus pandemic, sources told Reuters.

The BOJ may slightly cut its growth forecast for the current year to March 2021, but will stick to its view Japan is headed for a moderate recovery later this year as the pandemic’s impact subsides, the sources familiar with its thinking said.

“The economy will remain weak for some time but isn’t falling off a cliff,” one of the sources said.

“Risks to the outlook are skewed to the downside,” the source added, a view echoed by two others who spoke on condition of anonymity

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Upset that you missed the rally? Trying to play catch-up could be worse

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All of this can be avoided if you transition the expectations you put on your adviser from trying to beat “the market” to constructing a portfolio to generate a target return designed to meet your specific goals while taking as little risk as possible. These goals can include maintaining a particular lifestyle in retirement, building up a targeted estate value, or funding a charitable giving plan.

The benefit of goals-based benchmarking is that it removes emotional biases such as performance chasing.

When it comes to utilizing this approach, have a look at how you are strategically positioned, including global diversification, how your portfolio did during the worst crash since 2008, and how on track you are to meeting your target return. For those who haven’t made a financial plan, it can be a great first step in helping determine what that target should be in context of

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What the GOP has in mind for a second round of stimulus checks

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Hoping for another stimulus check in the mail from Uncle Sam? Depending on how much you make, you may be out of luck.

The Trump administration and Senate Republicans are reportedly considering a much slimmer follow-up stimulus package that would mean considerably fewer Americans receive direct payments, according to the Washington Post.

Nearly 160 million Americans received stimulus payments of up to $1,200 each under the CARES Act, the $2.2 trillion coronavirus aid package signed into law in March. While individuals earning up to $99,000 annually were eligible for some form of payment the last time around—with those earning $75,000 or less eligible for the full $1,200 check—any new stimulus bill would likely greatly reduce the number of Americans receiving assistance.

According to the Post, Republican … Read More