- must take steps if slump from tax hike spreads more broadly to economy
Eamonn reported his earlier comments here
More deets now from the presser
- ready to modify BOJ policy if upside/downside risks materialize
- sales tax hike may spur consumption if it heightens public confidence on Japan’s fiscal outlook
- if govt decides not to raise sales tax it must come up with alternative steps to restore fiscal health
- negative effect of Fed tapering on emerging markets likely to be contained
- emerging nations are better prepared against fund outflows than during Asian financial crisis
- emgerging nations will eventually benefit from the US recovery that is behind Fed’s expected tapering
That’s it
Nothing new here
USDJPY lower though at 100.33
