• Kyodo

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Sakuya Fujiwara, deputy governor of the Bank of Japan, on Thursday called for a policy that would help “directly boost demand” for goods and services as monetary measures have failed to prop up the economy.

“Interest rates have dropped to a level where there is almost no room for a further cut and we cannot put much hope on the effects of monetary policy,” Fujiwara told a meeting organized by the business community here. , pointing to the need to examine fiscal spending. “There is fairly large scope for employing (fiscal) policy while reviewing the quality of fiscal expenditures,” Fujiwara said.

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