If the U.S. continues to correct over the next few days it could be nasty for Japan, but the market fundamentals are much better here.

People tend to believe the Bank of Japan governor rather than ministers.

We have had a big rally for six to eight weeks and I think it has gone a bit too far. People are scared the economy is getting a bit worse.

Two or three trillion yen is quite a lot of money, so if the plan were to go ahead it would probably be a plus for the market in the short term.

It’s simply that we’ve had a very strong run in the past couple of weeks and you’ve got a natural correction from that. You’ve got some overseas investors beginning to take a little profit.

We’ve now got synchronized monetary policy everywhere in the world. It’s a sign of confidence in the economic recovery.