As Japan girds for a wallop to spending from a looming sales-tax increase, discussion in the nation’s parliament turns to history -- not to 1997, when the last bump in the levy helped trigger a recession, but to 1937.
Soccer legend Diego Maradona scored one of his most famous goals by taking the most direct route to his objective, wrong-footing defenders who expected him to alter course. Now, Bank of Japan Governor Haruhiko Kuroda is doing the same, an increasing number of economists say.
Half a year after Bank of Japan Governor Haruhiko Kuroda unleashed record monetary easing, economists see the bank failing to meet its inflation target, underscoring the case for stronger steps to revive the economy.
Haruhiko Kuroda said that the Bank of Japan will do whatever is needed to end 15 years of deflation should he be confirmed as governor and indicated that open-ended asset purchases could start sooner than next year.
Japanese Economy Minister Seiji Maehara said the country needs more monetary easing and policy efforts to encourage growth as the government prepares for election against an opposition that has stronger public support.