|
"The policies of the new Democratic Party of Japan government point to a slower pace of fiscal consolidation than we had previously expected," S&P said. S&P is maintaining Japan's "AA" rating -- its third highest
-- for now based on international assets, the yen's status as a reserve currency, the financial system's resilience and the diverse economy. Japan's gold and foreign exchange reserves of more than $1 trillion are second only to China's, it said. The credit rating agency said it will be monitoring policy, particularly Japan's medium-term fiscal plan scheduled for release by mid-year.
Christian Carrillo, senior rates strategist at Societe Generale in Tokyo, suspects Japan's sovereign credit rating might take a hit if the government is forced to issue more than 44.3 trillion yen in bonds, "which might happen in the second half of 2010."
[Associated
Press;
Copyright 2010 The Associated Press. All rights reserved. This
material may not be published, broadcast, rewritten or
redistributed.
News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries
Community |
Perspectives
|
Law & Courts |
Leisure Time
|
Spiritual Life |
Health & Fitness |
Teen Scene
Calendar
|
Letters to the Editor