Japan's new policy boosts wages in attempt to remove deflation

The new government in Japan has set an economic policy that the country should increase its nominal GDP along with increases of personal income, which would push up the country's inflation rate to 2%. The Bank of Japan, the financial regulator that is basically expected to work as inflation fig...

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Bibliographic Details
Published inSteel times international Vol. 37; no. 3; p. 16
Main Author Iwase, Nobuhisa
Format Journal Article
LanguageEnglish
Published Redhill Quartz Business Media Ltd 01.04.2013
Subjects
Economics
Fighter
Governments
Inflation
Markets
Policies
Regulators
Wages
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Summary:The new government in Japan has set an economic policy that the country should increase its nominal GDP along with increases of personal income, which would push up the country's inflation rate to 2%. The Bank of Japan, the financial regulator that is basically expected to work as inflation fighter is ready to take a collaborative approach with the government. Expectation for Japan's economic recovery through Abenomics has sharply increased both in Japan and in global financial markets. However, it is still a question whether this new economic and monetary policy will work and the country can return to the correct track for sustainable economic growth.
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ISSN:0143-7798