Date
23 September 2017
Japan needs to cut red tape to make further economic gains, according to the country's central bank chief. Photo: Bloomberg
Japan needs to cut red tape to make further economic gains, according to the country's central bank chief. Photo: Bloomberg

Bank of Japan chief calls on Abe to cut red tape

Japan’s wins against deflation could be hollow if the government doesn’t cut red tape and encourage businesses to invest more, the Wall Street Journal reported Sunday, citing the central bank chief.

Bank of Japan governor Haruhiko Kuroda said the main work to be done is by the government and the private sector, and if the administration led by Prime Minister Shinzo Abe doesn’t follow through with deeper, structural changes, “the real growth rate may be disappointing”.

The comments come more than a year after Abe tapped Kuroda to engineer a newly aggressive monetary policy, resulting in stimulus actions that have fueled a growth spurt and positive inflation readings.

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