As investors wait for clarification and details of Shinzo Abe's ‘third arrow' strategy to promote economic growth, Stephen Allen, investment manager at Architas, asks if Japan is already starting to turn a corner.
Towards the end of last year, some signs of life emerged on hopes that the new Prime Minister, Shinzo Abe, would come to power for a second time. In pre-election campaigning, Abe pledged to try to restore the country to growth after a decade of recession, outlining an aggressive stimulus package that included ‘Western-style’ money printing, easier inflation targets and plans to create 600,000 jobs and boost GDP by 2%. ‘Abenomics’, as it has subsequently been dubbed, included three distinct arrows of strategy for economic growth: a bold monetary policy to target inflation of 2%, a clea...
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