BoJ Governor: Government Should Accelerate Its Growth Strategy
Haruhiko Kuroda (Governor of the Bank of Japan) called on the Japanese government to step up its growth strategy, to increase the country's growth potential. Kuroda also acknowledged that the government has made significant progress in reforms to correct Japan's deteriorating financial condition, albeit with some delay. Nevertheless, Kuroda said that there is still much work to be done on deregulation and structural reforms.
The Chairman of the Bank of Japan also agreed with the government on the need to support ultra-free monetary policy in order to stop deflation. But still, many analysts argue that the government has made little progress on structural reforms, despite the fact that financial and monetary incentives have helped to weaken the yen and boost corporate profits.