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Japanese PM’s campaign to shed reflationist image needs substance behind the speeches
TOKYO: Japanese Prime Minister Sanae Takaichi’s administration is ramping up efforts to shed its growth and easy money image through changes in rhetoric, a move that may backfire unless it is met with action such as substantial cuts to spending. With major economies facing increased scrutiny from bond investors worried about rising inflation and yields, a lack of clarity on funding could cause another bond selloff in Japan given its USD7 trillion debt pile that is the biggest among advanced nations. Takaichi vowed to cap new debt issuance around 40 trillion yen (USD253 billion), even as spendi...
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