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1.Market Observations

25 Jun 2014 (AFR) – Abe says 15 years of deflation now over

(25 June 2014, AFR, p12, Isabel Reynolds and Toru Fujioka)

‘Japan’s Prime Minister, Shinzo Abe, said the deflation that wiped out much of Japan’s growth over the past 15 years and so stunted the economy that it slipped to number three behind China has ended and will be thwarted by new policies designed to encourage business expansion.’

‘ “Through bold monetary policy, flexible fiscal policy and the growth strategy, we have reached a stage where there is no deflation,” Mr Abe said on Tuesday. After the first sales tax rise since 1997 took effect in April, “this was an extremely difficult time for management of the economy, but I believe we were somehow able to overcome it”.’

Read the full story at AFR.com (might need AFR login access)

 

 

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