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S&P says more than 1/3 chance of Japan downgrade, cites risks to Abenomics
Rating agency Standard & Poor's said on Tuesday it saw more than a one-third chance that it would downgrade Japan's sovereign ratings because of uncertainty about whether the government's push to revive growth and end deflation will succeed. "The continuing prospect of a downgrade arises from risks associated with recent government initiatives and uncertainty of their success," S&P said in a report. "Japanese Prime Minister Shinzo Abe's plan to lift Japan out of deflation and spur economic expansion--known as "Abenomics"--has three pillars: bold monetary easing, fiscal efforts to spur growth, and a strategy to induce ... (full story)
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When the facts change I change my mind, what do you do sir
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