Actually from late in the day on Monday … a piece from the Wall Street Journal (ungated) that says the BOJ is considering using more upbeat language to describe the state of the economy in its monthly economic assessment. If this is correct it suggests the BOJ still doesn’t see the need for any further immediate monetary policy action.
The Journal cite “people familiar with the BOJ’s thinking”
- The BOJ monthly reports recently describe Japan’s economy as “continuing to recover moderately as a trend”
- With consumer sentiment improving and household spending slowly on the mend, the BOJ is mulling inserting a phrase indicating that the hangover from the higher levy is “moderating,” the people said.
A change of language like this wouldn’t necessarily mean that the BOJ is upgrading its assessment, but it does signal that the bank believes the country’s economic recovery hasn’t been derailed.
More at the article: BOJ Mulling More Upbeat Language on Economy
