Japan’s monetary policy shift, ending its experiment with negative interest rates, is unlikely to yield the expected results amid China’s economic stagnation.
Prime Minister Fumio Kishida says his government's new economic package will seek to navigate the economy through a cost-of-living crisis to achieve long-term growth as part of his plans to redistribute wealth in Japan with pay hikes and other similar measures.
Japan stands a better chance of finally breaking with deflation that has "shackled" the nation for a quarter of a century, amid recent strong wage growth and broadening price hikes, the government says in its annual economic and fiscal policy report.