• Reuters, Kyodo

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Japanese households had accumulated a record ¥2.023 quadrillion in financial assets as of December last year, roughly four times the size of its economy, as the COVID-19 pandemic kept consumers housebound, saving their money instead of spending it.

While the crisis in Ukraine clouds the outlook by pushing up fuel and living costs for households, the government’s decision to end pandemic curbs next week could give consumption a much-needed boost.

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