NewswireToday - /newswire/ -
Bunkyo-Ku, Tokyo, Japan, 2007/06/18 - Mr NG Nagasaki, spoke person of Jacobs & Burns from their head office in Tokyo gave their opinion about the increment proposal of Bank of Japan in interest rate.
Mr Nagasaki begin his speech by "eludicating" the previous economic status of Japan, "A year ago the falling prices did a lot of contribution in bank failure and inflation". His talk reminds the Bank of Japan that they should not raise an interest too high nor fast by saying, "Growth extremely low interest rate will normally leads inflation."
He continued with, "Though Bank of Japan forecast inflation every year and yearly inflation undershoots that forecast, they find it hard to make money with a half percent interest but their goal is to get that inflation off."
Another thing that Mr Nagasaki wants to point out is the over investment of Japan in infrastructure that has been scrapped and obsolete. He finished saying," the reasons why Japan needs to be optimistic are, the export sector adds more in growth performance as the US economy keeps going, another is increases in property prices will make the world economy good, collaterals become more valuable and property projects more profitable."
Japan's recovery is likely to continue. After a long stagnation, its hard for everyone to judge, including Bank of Japan and for Mr Nagasaki last words , "if deflation sets again Bank of Japan should keep rates hold."
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