Forget Japan’s Stimulus The Big Event Is The BoJ

Yesterday, Japan’s Prime Minister Shinzo Abe announced a much anticipated fiscal package designed to try and pull the country’s economy out of its multi-decade long economic malaise.

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Prime Minister Abe’s fiscal package amounts to ¥28 trillion (Abe has said ¥27 to ¥28 trillion) or around 6% of GDP, which sounds chunky, but according to Frederic Neumann, co-head of Asian Economics Research at HSBC the actual economic impact felt from the spending is bound to be smaller and weaker than the headline figure.

Forget Japan's stimulus the big event is the BoJ

Of the ¥28 trillion package, Abe claims...