Nearly a decade after the launch of “Abenomics,” Japan cannot still do without massive monetary and fiscal stimulus — the two features of the economy booster program pushed by the late former Prime Minister Shinzo Abe.
A weaker yen, a byproduct of the Bank of Japan’s monetary easing and welcomed as beneficial for the export-reliant economy, has reached a point where the current leader Fumio Kishida had to say its rapid weakening pace is one of the “crises” facing the country.
A financial data screen in Tokyo shows the Nikkei Stock Average (L) falling more than 800 points and the Japanese yen weakening against the U.S. dollar on Aug. 29, 2022. (Kyodo) ==Kyodo
Even after his stepping down as the longest-serving prime minister in 2020, Abe remained an advocate of expansionary fiscal policy and the continuation of powerful monetary easing. Holding a state funeral Tuesday for Abe — an influential yet divisive…
