Japan Prime Minister Shinzo Abe and BoJ Governor Haruhiko Kuroda held a meeting today, just ahead of next week’s monetary policy meeting. After the meeting, Kuroda said the central bank has already been providing ample liquidity and steeping up asset purchases to counter recent market moves, which fluctuate “widely. He related that “we’ll take appropriate steps as necessary in a timely manner, while closely monitoring developments.”
Released earlier in Japan, large manufacturer sentiment dropped to a near nine-year low in Q1. The BSI large manufacturers index dropped to -17.2, down from -7.8, worst since 2011. Nevertheless, outlook in Q2 in expected to improve to -5.5, and then 6.1 in Q3.
