Japan has the best opportunity to beat deflation in more than a decade, said Heizo Takenaka, the architect of policy changes credited with solving the nation’s bad loan problems after a burst real-estate bubble.
Prime Minister Shinzo Abe’s delay in pushing forward plans to loosen Japanese business rules heightened pressure on the central bank to sustain confidence as stocks extended their slump from last month’s five-year high.
Japanese Prime Minister Shinzo Abe pledged a legislative campaign to loosen rules on businesses ranging from non-prescription drugs to construction. Stocks slid as he said the effort won’t begin for months.
The Bank of Japan sees protecting its own balance sheet as more important than ending deflation and spurring the world’s third-largest economy, according to the former minister who led a clean-up of the nation’s banks.
The Bank of Japan’s offer of credit to cash-strapped businesses falls short of what’s needed to bolster growth after last month’s record earthquake, according to the former minister who led a clean-up of the nation’s banks.
Japanese Prime Minister Shinzo Abe must not pick a Bank of Japan bureaucrat to be the next central bank governor and should consider former economy minister Heizo Takenaka for the post, an opposition party leader said.
As havens go, Japan sure is an odd case. You would think that having the developed world’s largest public debt, an aging and shrinking population, deflation, few natural resources and the ever-present risk of a giant earthquake might give investors pause.