Japanese Bankers Association chairman Hirano speaks in Tokyo - 18 January 2018
- Expects consumer spending to improve as income rises
Consumption has been an ongoing problem for Japan since like forever. Figures from the latest report in Japan also doesn't suggest things are going to improve any time soon.
Though the BOJ and Abe has been constantly encouraging firms to adopt a higher wage policy and increase prices, Japanese companies are reluctant to do so as they fear it would hurt their bottom line.
USD/JPY now at 111.15, a little lower on the day. EUR/JPY still sidelined at 135.66 and GBP/JPY is off one-and-a-half year highs posted yesterday, now at 153.72.
