While there was no change to policy at this week’s BOJ meeting, and we have already covered BOJ head Kuroda’s press conference, a bit of a review with ‘5 key takeaways':
- Said the US government shutdown could have a “very serious impact” on U.S. and world economies if it is protracted
- The BOJ could rspond if the US budget impasse hurts Japan’s economy
- PM Abe made the correct decision on the sales tax – important in securing the market’s confidence in Japan’s debt management
- The accompanying stimulus package reduced the prospect of further BOJ policy action at the margin
- Spoke out to chide Mizuho Financial Group for making loans to organised crime
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