"The BOJ will not be able singlehandedly to keep rates low everywhere, but its commitment to continued monetary accommodation should restrain any possible global yield rise. She said the yen could weaken further to around 120 per dollar following the election result and amid expectations of US tax reforms. Although opinion polls in the last week had pointed to Abe's victory, the scale of his mandate and what it meant for the BOJ was far from assured. Had the ruling coalition lost a significant number of seats, Abe's position as Liberal Democratic Party chief could have been endangered, and with it the monetary policy he ushered in under Governor Kuroda.Abe's policy prescription has no shortage of critics. But Abe's reelection means critics will remain sidelined for a while longer at least.

Source: Economic Times October 24, 2017 03:45 UTC