P.M. BRIEFING : Japan Banker Sees 4% Growth
Japan is expected to overcome the effects of higher oil prices and achieve at least 4% economic growth in the new fiscal year beginning next April, Bank of Japan Gov. Yasushi Mieno said today.
Speaking to a seminar marking the 40th anniversary of the founding of South Korea’s central bank, Mieno said Japan is far better equipped to handle high oil prices after experiencing oil shocks in the 1970s.
“Japan will be less affected this time compared to the two previous oil shocks,” Mieno said. “This time, we think (price increases) will be between 50% and, at a maximum, double.”
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