Yuriko Koike’s Party of Hope has pledged to rely less on loose fiscal and monetary policy if it wins the upcoming election. But in practice its proposals, which include delaying the sales tax hike, improving public transport and introducing a basic income for all, seem likely to leave fiscal policy looser, while no concrete proposals have been put forward for how the Bank of Japan might change direction. A number of structural reforms have been proposed, but they seem unlikely to shift the economy’s course.
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