Former Bank of Japan official sees danger if reforms aren't forthcoming

10/17/2013 | Bloomberg

Japan's continued success with Prime Minister Shinzo Abe's growth strategy now depends crucially on the growth measures the government is trying to usher through the Diet, said Hideo Hayakawa, a former executive director at the Bank of Japan. He added that the current policy of pushing more bond purchases means "the situation in the government bond market is becoming considerably dangerous." It would be "too risky for the BOJ to buy more Japanese government bonds" when it becomes clear the inflation target is out of reach, Hayakawa said.

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