• Not sure how much stimulus will help

  • Households have inflationary mindset
  • Households expect to spend less due to stagnant income
  • negative rates have not reduced household inflation bias
  • BOJ should keep 2% target as long term goal
  • Should try to achieve 1% in shorter term

Headlines via Bloomberg

Sayuri Shirai, ex of the BOJ policy board, and now Eminent Professor of Faculty of Policy Management at Keio University.