Bloomberg with an article on the views of Ryutaro Kono, chief Japan economist in Tokyo at BNP Paribas. In brief, bolding is mine:

  • “… for an energy importer like Japan, the drop in oil will act like a broad tax cut in supporting growth”
  • “The BOJ shouldn’t really take any additional steps to weaken the yen further given how the negative impact is becoming more apparent now”
  • Kono, who expects the BOJ to reach its inflation goal, says the focus needs to shift away from monetary policy. “The positive effects of cheaper oil and a pause in yen weakness will soon become evident in the economy … What’s needed now is a structural reform”

More:

  • BOJ Governor Haruhiko Kuroda said on Thursday an almost 60 percent drop in crude prices from last year’s high in June was a “big plus” for the economy
  • “The government is extremely sensitive to public opinion,” said Akito Fukunaga, the Tokyo-based chief rates strategist at Barclays Plc. “Current policy settings are proving effective in pushing down rates. The BOJ is already on the path to stable 2 percent inflation.”
  • Barclays joins BNP and Okasan to be among the only five financial firms whose economists don’t expect any additional BOJ stimulus, according to the Bloomberg News survey

I don’t have a link for this report as yet, when I get it I’ll post it as there is more UPDATED: LINK

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Hmm … this article is ticking two boxes for me … lower oil as a benefit to the economy and no further BOJ easings for the foreseeable future.

I’m gonna be accused of confirmation bias if this continues.

I’ll try to find some contrary news to post.