- recovery in consumption was later than expected
- its possible that real GDP will contract in FY2014
- BOJ deployed maximum scale of easing thst it can deliver on Oct 31, now need to scrutinize data for time being
- even if outlook revised down BOJ won’t ease automatically
Not so cheery comments out a short while ago and one man who doesn’t seem in a rush to ease further any time soon
USDJPY 117.78
