觀點日本經濟

The latent problems with Japan’s economic experiment
安倍經濟政策潛藏風險


摩根大通日本首席經濟學家菅野雅明:安倍犧牲央行獨立性的政策,也許是擺脫通縮之道,但當日本需要收緊政策時,央行獨立性至關重要。

The conflict between Japan’s government and its central bank has taken a new twist. In January, the Bank of Japan finally accepted a 2 per cent inflation target and committed to open-ended asset purchases. Had the BoJ refused the inflation target, the government of Shinzo Abe would likely have proposed changes to the BoJ Law, thus removing, or reducing, the bank’s independence.

日本政府與日本央行之間的衝突再現轉折。1月,日本央行(Bank of Japan)終於接受了2%的通膨目標,並承諾實施無限額資產購買。假如日本央行拒絕接受通膨目標,安倍晉三(Shinzo Abe)政府可能會提議修改《日本銀行法》(Bank of Japan Law),從而剝奪或削弱日本央行的獨立性。

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