With trade and direct financial ties between Japan and Europe relatively weak, the main channel through which Greek exit from the euro-zone could affect Japan is a pick-up in safe haven flows. If that happened, it could trigger renewed strengthening of the yen, but we would expect the BoJ to respond with even more aggressive easing.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.