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Board not yet ready to heed IMF advice

This week the IMF added its voice to those calling for further monetary easing from the Bank of Japan. However, the Policy Board seems more likely to upgrade its own assessment of the state of the economy at the two-day meeting that concludes on Tuesday. At most, we expect the Board to increase funding for the special lending programme for “growth” industries, introduced last year, which has now hit its ¥3 trillion ceiling.

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