Japanese Prime Minister Shinzo Abe’s plan to beat deflation with money printing by the central bank is bound to fail as the root causes are more structural, said Eisuke Sakakibara, a former Ministry of Finance official.
It was an elite band of graduate students that in the early 1970s attended intense economics sessions in a small, austerely furnished basement under the 15th-century lodge at All Souls College at the University of Oxford.
The euro may lose 20 percent or more against the dollar and fall below 100 yen as concern over Europe’s debt crisis mounts, according to Eisuke Sakakibara, the former Ministry of Finance official known as “Mr. Yen.”
Japan’s yen may strengthen to as high as 75 per dollar, a former top Finance Ministry official said as policymakers voiced increased concern about the threat the strengthening currency poses to the nation’s economy.
Naoto Kan , Japan’s first leader in 15 years with no family connection to politics, pledged to draw from his common upbringing to help revive an economy hamstrung by persistent deflation and the world’s biggest public debt .
Japan’s government will struggle to halt the yen’s advance toward a record high because the U.S. probably won’t support any intervention to weaken it, said Eisuke Sakakibara , formerly Japan’s top currency official.