Koizumi is viewed as a reformer. If he had lost the election, the danger would be that we could have seen Japan slip back into its old ways.

As a man of civil profession seems awkward in a camp or a garrison, and is even in danger of being despised there, so does an idle man among men of business,

Looking two years down the line, there are certainly some risks building up,

It's notable that CAD has participated less in the gains against the U.S. dollar than most currencies have seen.

I think the market has got too pessimistic on interest rates,

is still hoping to squeeze one more interest rate cut in.