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.