The outcome of this week’s Bank of Japan (BOJ) meeting will arguably be the most closely-watched in years given high expectations for a radical monetary policy to end two decades of deflation. So, will Japan’s central bank deliver or disappoint?
There’s no doubt that the stakes are high: the benchmark Nikkei stock index has surged 40 percent and the yen has tumbled more than 15 percent since mid-November on expectations for aggressive monetary easing.
“The run-up in Japanese markets since November has all been about words of intention, the action hasn’t happened yet,” said Chong Yoon-Chou, investment director at Aberdeen Asset Management. “And we’ve only just got a new central bank governor, although he is talking the right talk at the moment.”
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