Business & Policy

Moving Forward: Japan’s Economy under Quantitative and Qualitative Monetary Easing

Two years have passed since the introduction of quantitative and qualitative monetary easing (QQE) by the Bank of Japan. After Japan’s economy made a remarkable improvement in both growth and inflation in the first year, the performance in the second year was a little disappointing. However, this was due mainly to the hangover effects of the consumption tax hike and the impact of the significant decline in oil prices on inflation, both of which should dissipate. Contrary to popular belief, the underlying improvement of the economy is very encouraging, as evidenced by the recovery in business investment on the back of record profits, as well as by the positive feedback between wage increases and moderate inflation. Governor Kuroda will explain why the Bank is convinced that achieving the 2 percent inflation goal is in sight.


The Honorable Haruhiko Kuroda, Governor, Bank of Japan

Wilbur L. Ross, Jr., Chairman & CEO, WL Ross & Co. LLC.; Chairman, Japan Society

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March 2018

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