Washington will step up pressure on Tokyo to alter its austere fiscal policy to stimulate domestic demand if the economy here proves to have fallen into recession next month, a policy adviser to the Democratic Party said Sept. 26.
Richard Medley, president of Medley Investment Group, a New York-based private organization, said it will become clear in 20 days whether Japan has returned into recession. Within this period, the Bank of Japan’s quarterly “tankan” survey and figures for September retail sales will be announced.
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