The BlackRock Investment Institute have cut Japanese stocks to “underweight” .
They cited the potential for the Bank of Japan to shift policy away from its current “ultra-loose” monetary strategy. Say that this could push global yields higher and reduce risk appetite.
Reuters carry the info:
- Japanese inflation has reached four-decade highs on a weaker yen and higher energy prices, and “crucially, that’s now feeding into higher wages,” BlackRock said. “We think that paves the way for the BOJ to roll back policies that by its own measures may have achieved their goal: to foster a sustained rise in inflation toward its 2% target that is underpinned by wage growth.”
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Bank of Japan Governor Kuroda departs office on April 8 when his term expires. The new governor will be Kazuo Ueda:
- Japan government reportedly likely to nominate Kazuo Ueda as new BOJ governor
- What to know about Kazuo Ueda, the man set to take over as the next BOJ governor?
- Ueda says BOJ monetary policy is appropriate, need to continue easy policy
Bank of Japan Governor Kuroda
