Deputy looks to explain Japan's low inflation
Toshiro Muto, a deputy governor of the Bank of Japan, said he believes there are three reasons why the country's inflation rate has remained low in spite of economic growth.
Speaking at the Japan Society in London, Muto said that Japan's low inflation was "one of the distinctive features of the current recovery and also a somewhat puzzling phenomenon." He said that three changes affecting prices and wages were behind the phenomenon: globalisation, deregulation and a shift in employee attitudes.
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