Japan finance minister: Mon pol has moved to world of interest rates
- Don’t think public-private investment target of 370 trillion yen is excessive
- Prices have been rising in a healthy manner
- Can’t comment on source of funding food tax cut beyond what the PM said yesterday
Between the yen and rising Japanese yields/inflation, something has to give in Japan. There are people writing about 'the biggest bubble in history’ and they’re not wrong. One of the things that keeps the party going is faith in leadership to not do anything too crazy but the past couple iterations of Japanese leadership haven’t exactly inspired my faith in fiscal discipline. Last year was a solid year for growth in Japan but I don’t see any way they can grow their way out of the mess they’re in.
This article was written by Adam Button at investinglive.com.