In an article published today in the Wall Street Journal,there seems to be among members of the board of BOJ a cautious approach of Abenomics given the current uncertainty in emerging market economies and the slow recovery of advanced economies.
Mr Takahide Kiuchi, Bank Of Japan Board member known for his cautious views highlighted the risks posed to Japan by overseas economies, saying growth in developed nations isn't yet strong enough to make up for the slowdown in emerging countries.
Japan is currently hoping higher exports, supported by a weaker yen, will help fuel domestic growth. But Takahide Kiuchi said weaker overseas economies won't bode well for exports.
Mr. Kiuchi also said he couldn't justify the BOJ taking any additional easing measures, despite his concerns that the health of overseas economies, the diminishing positive impact of the weaker yen and higher Japanese stock prices are having an impact on the domestic economy.
Mr Takahide Kiuchi, Bank Of Japan Board member known for his cautious views highlighted the risks posed to Japan by overseas economies, saying growth in developed nations isn't yet strong enough to make up for the slowdown in emerging countries.
Japan is currently hoping higher exports, supported by a weaker yen, will help fuel domestic growth. But Takahide Kiuchi said weaker overseas economies won't bode well for exports.
Mr. Kiuchi also said he couldn't justify the BOJ taking any additional easing measures, despite his concerns that the health of overseas economies, the diminishing positive impact of the weaker yen and higher Japanese stock prices are having an impact on the domestic economy.
"I personally see slightly more downside risks [for Japan's economy], primarily due to heightened uncertainty in overseas economies, particularly in emerging countries," Mr. Kiuchi told business leaders in the city of Kushiro on the northern island of Hokkaido. "The recovery in advanced countries is not strong enough to offset the slowdown in emerging economies," Mr. Kiuchi, formerly chief economist at Nomura Securities, later said at a news conference.
He added that Japan may not be able to count on improvements in export conditions in the future, given the uncertainty in overseas economies".
