The Bank of Japan's next move will be to dial back its massive stimulus, ac...
TOKYO - The Bank of Japan’s next move will be to dial back its massive stimulus, according to an increasing number of analysts polled by Reuters, reflecting receding market expectations of imminent monetary easing by the central bank.
“There’s a chance growth in overseas and Japanese economies could pick up next year,” said Nobuyasu Atago, chief economist at Okasan Securities. The BOJ is set to keep monetary policy steady this week as receding fears of a disorderly Brexit and signs of progress in U.S.-China trade talks take some pressure off the central bank to use its dwindling ammunition to underpin growth.
“Consumer spending is expected to worsen sharply in the current quarter as the tax increase puts a burden on households,” said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute. Some economists responded to the poll before the government announced its plan to compile a 13.2 trillion yen fiscal package to support growth.
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