Bank of Japan policymakers will debate the feasibility of ramping up already mas...
TOKYO - Bank of Japan policymakers will debate the feasibility of ramping up already massive stimulus on Thursday but are expected to save their limited ammunition for a while longer, despite growing risks to the country’s fragile economic recovery.
On Wednesday, the U.S. Federal Reserve cut interest rates again to sustain a record-long economic expansion and insure against risks such as weak global growth and resurgent trade tensions. “With market sentiment improving, there’s not much merit for the BOJ to act in September,” said Tomoyuki Shimoda, a former Bank official who is now an economics professor at Hitotsubashi University.
BOJ officials have said solid domestic demand is offsetting some of the weakness in exports, helping the economy sustain a moderate expansion. “When you look at the global economy, factors the BOJ need to worry about keep increasing,” said Shigeto Nagai, head of Japan economics at Oxford Economics. “It would be hard for the BOJ to be too optimistic about the global outlook.”
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