James Malcolm discusses recent changes in the Bank of Japan's (BoJ) reports, indicating increased concern about missing inflation targets. The memo highlights the potential need for additional easing if economic momentum does not improve. It also analyzes recent BoJ reports and research studies on QE's impact, noting weaker-than-expected private consumption despite higher corporate profits and employee income. The memo emphasizes the importance of the upcoming July 15 monetary policy meeting and the central bank's tightrope walk in balancing inflation targets with fiscal consolidation plans.
documents/vol00010-efta01457339-pdf.pdf
{"key_people":["James Malcolm","Mr Kuroda"],"document_type":"correspondence","document_subtype":"memo","key_organizations":["Bank of Japan"],"reference_numbers":["DB-SDNY-0116850","SDNY_GM_00263034","EFTA01457339"]}