“The BoJ (pic) must do more because Japan appears to be sliding back to deflation. Instead, the BoJ is stealth tapering asset purchases, ” Yamamoto told Reuters in an interview.
TOKYO: Japan’s government is expected to compile an extra budget in October or November, senior ruling party lawmaker Kozo Yamamoto said, calling for spending of around US$239bil (RM990.06bil) to cushion the economic blow from the Covid-19 pandemic.
Yamamoto, a heavyweight close to former Prime Minister Shinzo Abe, also urged the Bank of Japan (BoJ) to ramp up asset buying to weaken the yen further and help the export-reliant economy.
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