business

Bank of Japan lifts growth forecast, keeps policy unchanged

6 Comments

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

© 2021 AFP

©2021 GPlusMedia Inc.

6 Comments
Login to comment

The BOJ has consistently fallen short of hitting the target it considers key to turbocharging the stuttering economy, despite a barrage of stimulus and monetary easing packages.

What an impenetrable mystery. No matter how much easy money the BOJ throw at the financial centers and Japan Inc. corporations, and the stock market goes up, people just do not seem very positive about this economy. Might want to convene another policy roundtable and commision a think tank to investigate this conundrum.

4 ( +4 / -0 )

What an impenetrable mystery. 

Not really. Inflation was headed toward the target - until the consumption tax was hiked, also triggering a recession. (I predicted that at the time.) Then came the plague.

Both events were outside the BOJ's policy scope.

-2 ( +1 / -3 )

@JeffLee

Disagree. When I look at the chart https://tradingeconomics.com/japan/inflation-cpi I see that inflation has been below 1% almost all the time since 2015. The consumption tax hike was not until October 2019. My Bazooka had 6 years before that of printing money.

Where did the money go? To finance the government's massive spending and into the stock market. None of this puts money in consumer-san's pocket. A minimum wage hike might have done that paid for by draining some of the money from the inflated stock market.

5 ( +6 / -1 )

The majority of people have most of what they need and only buy new big ticket items to replace those that break, maybe once every 10 years or so. There hasn't been an innovative product that's caught the public's attention in donkeys years. Most people are concerned about saving as much as possible because they don't expect to see much if anything in the way of pension or social security going forward. Business confidence is low, and because of poor demand forecasts they are not willing to make capital investments that would stimulate the economy by providing jobs. Housing starts and construction are both down, due to the pandemic and the labor shortage. Unemployment and underemployment have increased, and pay packets have shrunk, while the rich get richer in the stock market. Japan is basically where it was in the early '90's - still moribund - and the MOF and BOJ are still following their same tired policies, sucking their teeth and enacting Einstein's definition of insanity.

6 ( +6 / -0 )

The ordinary workers should place their non-existent cash in the stock market?

What nonsense.

And going to buy imported goods made in sweatshops is not the way to an economic boom.

Everything in Japan is costly.

From food to transport-what is left over?

2 ( +2 / -0 )

A minimum wage hike might have done that paid for by draining some of the money from the inflated stock market.

Paid for by consumers, but especially those who don’t get jobs because the government decreed it illegal to employ people below a certain wage level.

The stock market would care if the corporate tax rate were hiked, but I doubt it cares about minimum wages.

-1 ( +0 / -1 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites