6 Quotes by Paul Sheard

The pickup in domestic demand seems to be starting to boost activity in the tertiary sector.

Premature tightening is the biggest downside risk we see for Japan. We don't think it will happen, but we cannot ignore it.

The BOJ will not ease its easing policy until it's absolutely sure Japan is out of deflation. I believe we're not looking at April or May this year, but September.

The BOJ will be slow to end quantitative easing, because it's constrained by the government's deflation-fighting plan. I believe we're not looking at April or May this year, but September.

Imports seem to have continued to grow rapidly, reflecting higher energy prices. The near-term outlook for exports remains positive.

All the indications of domestic demand continue to surprise on the upside.