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Economy

Bank of Japan Looking Recession-Lite

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By Douglas A. McIntyre Published
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The Bank of Japan has made a economic projection that has at least a bit of cautious optimism.  While it is not declaring the recession entirely over, the BOJ kept rates at 0.10% and has extended added liquidity measures through December.  Technically, there was a downgrade of the outlook of the 2009 economy.  But the hint of a recovery is close.

What is interesting is that the BOJ is essentially calling for a recovery, but  it is keeping the trump cards handy just in case.  In the address, the BOJ said the economy is heading for a recovery.  But the BOJ wants to examine whether this trend will continue after three months.

What the BOJ is really telling you is that this is still a notion of “Less-Bad” ahead.  It might not even be cautious optimism.  It might be hopeful pessimism.

It used to be that America made fun of the near-zero rates that the Japanese government pays for its bonds.  But look at our own Fed Funds rate.

Jon C. Ogg
July 15, 2009

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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