Japan households less upbeat on economy despite Abenomics

TOKYO: Japanese households are less optimistic about the economy, a quarterly central bank survey showed, underscoring deep-rooted doubts over whether Prime Minister Shinzo Abe's stimulus policies will boost wages enough to make up for the rising cost of living.

The ratio of households who do not favour price rises remained stubbornly high around 80%, according to the survey, boding ill for the Bank of Japan's efforts to heighten inflation expectations with its pledge to achieve 2% inflation in a country mired in deflation for decades.