Azusa Kato News
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Japan appointed Finance Ministry official Mitsuhiro Furusawa as the country’s top currency bureaucrat, Finance Minister Taro Aso said, as the weakening currency causes problems with Japan’s trading partners.
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Japan’s consumer prices fell for the eighth time in nine months, highlighting the challenges facing the Bank of Japan in reaching a 2 percent inflation target.
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Japan’s trade deficit swelled to a record 1.63 trillion yen ($17.4 billion) on energy imports and a weaker yen, highlighting one cost of Prime Minister Shinzo Abe’s policies that are driving down the currency.
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Japan’s retail sales fell in October by the most in 11 months as consumers purchased fewer cars and televisions, adding pressure on the government to stimulate an economy that may be entering a recession.
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Japan’s broadest indicator of economic health climbed to the highest level since 2008, signaling the economy sustained its expansion through the first three months of 2010.
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Japan’s 10.3 trillion yen ($116 billion) fiscal stimulus may add less than a quarter of the jobs the government predicts, casting doubt on Prime Minister Shinzo Abe engineering a sustained recovery.
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Japan’s retail sales rose more than forecast in May, a sign that consumer spending will help sustain a rebound in the world’s third-largest economy.
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Japan’s retail sales rose less than economists forecast in December, indicating that consumer demand remains weak in the world’s third-largest economy.
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Taro Aso, son of a cement magnate and a champion of pork-barrel spending when prime minister, became Japan’s sixth finance chief in three years, auguring expanded fiscal stimulus in the world’s third-largest economy.
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Japan’s retail sales rose more than economists forecast in February, indicating that consumer confidence is returning as reconstruction demand boosts the world’s third-biggest economy.
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