Weekly Commentary – Japan’s Haruhiko Kuroda and China’s Zhou Xiaochuan
In Japan, Haruhiko Kuroda will become new governor in Bank of Japan in Tuesday. Investors are looking for more stimulate actions from BOJ. Japanese went down from around 80 to 95 as the expectation of further stimulates measures heated up since mid-November last year, even no real action has been taken by BOJ. Scale and timing of stimulate measures are two key points to monitor. Japanese Yen may rebound or keep flat in short team if the scale of measures misses or just matches the investors’ expectations.
In China, Zhou Xiaochuan kept his job as PBoC governor last week. A month ago, investors believed he would step down as he reached the compulsory retirement age. His retaining means new leadership in China endorses what Zhou Xiaochuan achieved over last few years, and is positive to China’s economy and equity market, as it implies consistence of China’s monetary policy. Financial reforms, liberalize exchange rate and reduce capital control are likely to going on in next few years.
(Haruhiko Kuroda) (Zhou Xiaochuan)
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