Well at least there is some recovery.....
Japan’s economic recovery is expected to continue, though its pace is likely to remain moderate, Bank of Japan Governor Masaaki Shirakawa said on Monday (Sunday night EST). Speaking at the quarterly meeting of the central bank’s branch managers in Tokyo, he added that the Bank of Japan will maintain an extremely accommodative monetary policy. The decline in Japanese consumer prices will likely ease as the impact of crude oil prices slackens, according to Shirakawa. He also said that capital spending will stay flat in the short term. The yen’s reaction to the central banker’s comments was muted: USD/JPY rose 0.05 yen to 90.94, before returning to its level preceding Shirakawa’s speech.
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