Kozo Yamamoto was brought into PM Abe's Cabinet yesterday, as Regional Economy Minister
As I said yesterday .... Yamamoto is a staunch advocate of Abenomics, to the extent he has in the past advocated the BOJ underwrite government debt and setting the 2% inflation target into law.
More from him (headlines via Bloomberg):
- After getting price target, Japan needs wage target
- Want the BOJ to act quickly to achieve 2% inflation
- Will use policies to reach
1%1.5% inflation the middle of next year - lack of wage gains are holding back deflation escape
If pointing up was a measure of Japanese policy success these guys would be killing it
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ps. here is a Bloomberg backgrounder to Yamamoto:
Policy Radical Yamamoto Joins Cabinet as Abenomics Struggles
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Yamamoto is the new guy on the block and he making aggressive noises, and indeed has a record of being pretty gung-ho on policy. USD/JPY bouncing a few points on his comments, around 101.05 as I update after sub 100.90 lows