business

BOJ chief pleads for time to battle deflation as he starts new term

14 Comments
By Toru Hanai

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14 Comments
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So his policies hadnt worked till now ( during an ideal world economic situation, before Donny came up with his China trade war gem ) ...after what , 5 years of Abenomics but...yeah, everyone please wait because they will magically start working now. Yep,,,,didnt work , so lets keep on doing it. TIJ.

9 ( +10 / -1 )

Good luck with that..dumb is as dumb as

6 ( +6 / -0 )

"So his policies hadnt worked till now"

The economy has actually been steadily improving over the last couple of years. It's in considerably better shape now than in the pre-Abenomics era.

The problem is corporate behavior. Employers have been hoarding rather than sharing their record-high profits.

-5 ( +2 / -7 )

Sure it's worked. It's made the rich even richer which was always the intention as it is for all central bankers

6 ( +9 / -3 )

"Sure it's worked." That is right it has. The economy is bigger, more people have jobs. and people are richer.

-6 ( +1 / -7 )

If there has been a so called 1% inflation...of which I do not believe, then why was there an article stating that beer will go up 10%. So random. I feel sorry for the beer drinkers.

4 ( +4 / -0 )

Please give him more time to accomplish nothing? Sounds about right, and suitable to see him shaking hands with Abe, who wants three more years of accomplishing nothing as well -- well, other than helping out the rich and screwing the nation.

8 ( +8 / -0 )

The answer is an easy one, dismantle the trade barriers in place that restrict the importation of agricultural and processed food. Do not raise the 8% VAT to 10%. With lower food cost, no increased taxes, the economy will improve.

5 ( +5 / -0 )

It doesn't take time. It takes skill and business ethics.

Unfortunately, the BOJ knows nothing of the latter.

1 ( +2 / -1 )

Like Abe,he's had long enough and failed.Need an injection of youth.This country just feels so old or is it the ossans in positions of power making it so?

6 ( +6 / -0 )

"So his policies hadnt worked till now"

The economy has actually been steadily improving over the last couple of years. It's in considerably better shape now than in the pre-Abenomics era.

I meant Kuroda,s policies to produce 2 % inflation hadn,t worked ..the stated goal he has been pushing back year after year.

3 ( +3 / -0 )

To the extent that the economy improved, arguably little of it is thanks to the monetary bazooka. The lower yen (“not the goal, Donald, honest”) has helped inflate profits of exporters and make Japan more attractive for tourists, but this is all just buying time, while continuing to postpone tougher reforms, and typical households continue to keep saving for the future in part because of fear of what that future holds.

And how long does this so called ‘recovery’ get to be called as such? After five years of this if the policies were working we should be ‘recovered’ by now already. A recovery that is ‘nascent’ so indefinitely is not truly a recovery at all.

smithinjapan, I agree with everything you said except the part about helping the rich. I suspect I might be classified as ‘rich’ but I see little true help from Abe. What I want him to do is make tough changes for the good of the nation, and that would include changes that cut government transfers to ‘rich’ families like mine, that only serve to in-debt poorer tax payers. It’s not fair to them and the debts hold us all back as a result.

Another five years of this and we’ll still be moaning here at JT about this never ending ‘nascent recovery’, and that’s if things don’t turn south with an inevitable turn of the global business cycle...

2 ( +3 / -1 )

The economy has actually been steadily improving over the last couple of years. It's in considerably better shape now than in the pre-Abenomics era.

There is no proof that the global business cycle wouldn’t have dragged Japan along, in the absence of the BOJ bazooka, which has failed to achieve its stated objectives anyway.

Dont confuse effects and causes.

2 ( +3 / -1 )

If we wait 50, or 100 years, the chance of reaching the 2% inflation target at some point increases, no matter what the BOJ does. But Kuroda's policies have clearly failed, so why does he think 5 more years of the same will be any different?

3 ( +3 / -0 )

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