A Tough Job For The Next Mr. Yen
Whoever becomes the next governor of the Bank of Japan will be expected to make full use of the central bank’s tools to reflate the Japanese economy, while avoiding accusations that it is igniting a currency war by deliberately depressing the yen.
Further aggressive easing of monetary policy in the world’s third largest economy looks all but assured — thanks to the early departure of the bank’s current governor and a new prime minister with a strong mandate for bold action to stimulate growth.
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