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Frugal Japanese tighten their belts as prices rise, yen slides
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The Bank of Japan has bucked the global trend of rising interest rates [File: Toru Hanai/Bloomberg] While some economists argue the BOJ's insistence on maintaining low-interest rates to spur consumption, especially as central banks around the world tighten policy, Koll believes Japan's economy could be about to enter a “virtuous cycle” where rising prices do not reduce consumption. “[BOJ Governor] Kuroda's reputation and legacy is on the line,” Koll said.
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