Next week’s policy meeting at the Bank of Japan is expected to be much like the 14 others since the dawn of “quantitative and qualitative easing” (QQE) last April: plenty of upbeat talk about recovery, but no change to the scale or the pace of easing.
And some think the inaction will extend a lot longer. Expectations of another shot of stimulus – “QQE2” – have been shifting back all year. According to the latest Nikkei survey, almost one-tenth of market participants now expect no further action at all. Here are four reasons why: