(21 DECEMBER 2017)DAILY MARKET BRIEF 2:Bank of Japan holds tight

As expected, the Bank of Japan kept rates unchanged at -0.1%, and the 10-year bond target stayed at 0%. BoJ officials expressed their confidence that the inflation will rise toward its target of 2%. The BoJ were also happy about the Q3 economic growth of an annualised 2.5%.

We believe this growth has cost too much, and it is unsustainable in the long haul.

By Yann Quelenn