The Bank of Japan (BOJ) board member Yutaka Harada is back on the wires now, extending his earlier comments on the economy and monetary policy.
Main Points:
The domestic economy has entered into a delicate state.
Q1 GDP appears strong but driven by a fall in imports, inventories.
Hard to say that the economy is recovering.
Raising sales tax now risks causing a recession.
Japan’s fiscal stimulus is improving under QQE.
MMT is questionable as unlimited debt issuance would cause unwelcome inflation.
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