But notes that global risks remain large
- China's economy unlikely to fall into recession
- Private consumption somewhat weakening, warrants attention
They are continuing to play down risks to the domestic economy, mainly to try and maintain the fact that they can keep up the narrative to not introduce additional policy easing.
But when economic data continues to deteriorate amid struggling global trade and the fact that they also went through with the sales tax hike in October, for how long more can the BOJ put up with this facade?
Today's industrial production data showed that factory activity has fallen to its weakest annual pace in nearly six years:
