The birth of a royal baby is expected to motivate the Japanese to spend 14 trillion yen, providing welcome stimulus to the decelerating economy.
Keiichi Matsumura, deputy chief researcher at Dai-ichi Life Research Institute, a research arm of Dai-ichi Mutual Life Insurance Co., said the birth could motivate grandparents to spend roughly 1 percent of their personal financial assets — worth a combined 1.4 quadrillion yen — on their grandchildren.
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