Top Economist Says BOJ Doesn’t Need More Stimulus: Japan Credit
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Japan’s top-rated economist says the central bank doesn’t need more stimulus, defying the consensus.
Ryutaro Kono, chief Japan economist in Tokyo at BNP Paribas SA, voted No. 1 by Nikkei Veritas magazine in six of the past seven years, says lower oil prices will stimulate growth and policy makers will favor yen stability. Twenty-six of 33 of economists in a Bloomberg News survey forecast the Bank of Japan will accelerate asset purchases by the end of October to meet a 2 percent inflation target. Ten-year inflation swaps slid to a two-year low of 0.74 percent this week, Meitan Tradition data showed.