The Bank of Japan didn’t indicate any fresh willingness to print in today’s decision but the IMF thinks that might be their only hope.
IMF chief economist Blanchard said Japan must ensure strong private demand and have fiscal consolidation but he said said that the BOJ must continue expansionary monetary policy.
It’s critical that USD/JPY holds 108.00 today. The low so far is 108.11 with the S&P 500 teetering.
