Japan Economics

Japan Economics Weekly

10 August, 2018

BoJ’s cold feet, consumer spending boycott

Media reports suggest that the Bank of Japan was close to hiking rates twice this year. But the decision to allow ten-year yields to rise a bit further above the 0% target placated the hawks on the Board. And the introduction of forward guidance suggests that the doves retain the upper hand. Our view is that policy will remain loose beyond 2020.

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