What's Behind Japan's Latest Policy U-Turn?
After making action by the Bank of Japan a centerpiece of its past election agendas, Prime Minister Shinzo Abe’s party has no reference to monetary policy in its campaign platform for the election next month. Documents released by the ruling Liberal Democratic Party on Friday don’t mention the BOJ or monetary policy, in stark contrast to platforms issued before the last three national elections from 2012 to 2014. Economists say the dramatic shift signals a reluctance to emphasize BOJ policy amid criticism over its negative rate strategy from lawmakers and households. It also supports the view of economists who project no further easing at the next policy meeting on June 15-16. Fitch Asia Sovereign Ratings Head Andrew Colquhoun discusses the region with Bloomberg's Mark Barton on "The Pulse."