2013年8月1日木曜日

Prices outpace incomes as yen softens

How do you like Japan Up and/or Down ?  :
(April 12, 2013. JT)
Prices are rising before incomes are and thus consumers are feeling the pain of the yen's depreciation driven by "Abenomics." First affected are imports, but price hikes for daily necessities and power are looming. Credit for rising stocks and the yen's continued depreciation goes to Prime Minister Shinzo Abe's ultraloose economic policies and the Bank of Japan's massive monetary easing declared last week. The central bank's aggressive easing, orchestrated by BOJ Gov. Haruhiko Kuroda, has the dollar surging near the symbolic threshold of ¥100. Finance Minister Taro Aso has called the depreciation a "process of (the yen) being corrected" after touching highs below 76 to the dollar last summer.

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