Flash Comment - Japan: Bank of Japan is now on standbyFlash Comment - Japan: Bank of Japan is now on standby
By: Danske Bank
- Bank of Japan (BoJ) as expected left its leading interest rate unchanged and did notexpand its non-conventional easing measures. BoJ’s view of the economy remainsunchanged, but comments from board governor Shirakawa suggest BoJ mightupgrade its view of the economy at its next monetary meeting.
- In our view BoJ is now on standby. This implies not only that non-conventionaleasing will not be expanded, but also that the unwinding of non-conventional easingand raising interest rates is still far off. Hence, relative monetary policy shouldcontinue to support a weaker JPY.
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