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Japan: Deja vu, only worse

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By Alicia Garcia Herrero, Chief Economist for Asia Pacific at NATIXIS, Senior Research Fellow at BRUEGEL Since Prime Minister Shinzo Abe came to power in 2012, Japan’s economic recovery has been hinging on Abe’s three key economic policies (the so-called three “arrows” of Abenomics) to bear fruit. The first, and best known arrow is monetary policy, which has been used massively through quantitative easing as well as the introduction of negative rates but at no avail. In fact, the Bank of Japan’s ultimate objective – pushing up inflation towards a 2% target, is far from being reached.  On the second […]
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