Bank of Japan’s focus on yen made Japan Inc complacent, says Abenomics critic
The Bank of Japan’s focus on keeping the yen weak and bolstering stock prices has made executives complacent and hurt corporate competitiveness, says a former state banker turned critic of Prime Minister Shinzo Abe’s pro-growth policies. Akira Kondoh, who led a state-owned bank that funded big infrastructure projects touted as pillars of “Abenomics” stimulus measures, said the programme has failed to deliver on corporate reforms and deregulation. Abenomics only gave people the impression the government was doing something … but many things remain undelivered,” the former governor of the Japan Bank for International Cooperation (JBIC) told Reuters on Tuesday. After coming to power in 2012, Mr Abe deployed a mix of radical monetary easing, increased fiscal spending and strategies to boost long-term economic growth in a plan dubbed “Abenomics”. Read More @ https://www.businesstimes.com.sg/government-economy/bank-of-japans-focus-on-yen-made-japan-inc-complacent-says-abenomics-critic
50 PIPS FOR TODAY
The JPY will continue to strengthen as the global economy hits up and uncertainty around the world. China & US trade will also push JPY stronger together with Gold.
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