EU Leaders Agreed on Some Measures; BOJ Expanded Stimulus

Oil prices rebounded after a statement after the EU summit showed that European leaders have agreed on some critical measures. However, several questions remained unresolved during the meeting and we advise caution on the outlook of European debt crisis. Meanwhile, the Bank of Japan (BOJ) expanded the asset-purchase program as the pace of recovery has been dismal since the earthquake.

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EU Leaders Agreed on Some Measures; BOJ Expanded Stimulus