Japan will weather banking crisis, says Mizuno
There is little chance of the recent banking crisis adversely affecting the Japanese economy according to Atsushi Mizuno, who is regarded as the most hawkish member of the central bank's current rate-setting board.
Mizuno said that, in comparison with their US and European counterparts, Japanese financial institutions had lagged behind in dealing with securitised products. And, when they did invest, did so mainly in the high-rated tranches.
He said that while the subprime crisis's impact on US
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