BOJ Leadership Change Is Market Focus Now, Mizuho’s Asaoka Says
Hitoshi Asaoka, a Tokyo-based senior strategist at Mizuho Trust & Banking Co., a unit of Japan’s third-largest bank by market value, talks about today’s Bank of Japan’s decision and the central bank’s policy outlook.
The BOJ refrained from adding to stimulus ahead of leadership changes next month, as Prime Minister Shinzo Abe calls for boosting stimulus.
“The market consensus was no action this time as its focus shifts to BOJ’s personnel changes and what new leadership will do.
‘‘The BOJ introduced a 2 percent inflation target following the birth of the Abe administration, and they may add to monetary easing one after another in a preventive way from here. That will be new and justifiable.
‘‘Expectations remain high for the Abe administration and for the BOJ. The stock rally won’t slow down.’’
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