I think it is gradually becoming a given that the BOJ will at some point next year end its quantitative easing policy. |
It was symbolic. The long decline in bank lending has come to an end. |
That means a long-lasting declining trend in bank loans is ending. |
The deficit appeared to be wider than the market consensus but this is due mainly to the Lunar New Year holiday. |
The economy will continue this gradual recovery led by private domestic demand. Any changes in economic policy brought on by the election probably won't alter that scenario. |
There remains some risk. If turmoil in the equity markets should continue, that would impact consumer sentiment and consumer behavior. No one really knows what will happen. There can be a second wave of scandal from other companies. I can't dismiss that possibility. |