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INTERVIEW: Japan Close to Breaking Away from "Lost 3 Decades"

INTERVIEW: Japan Close to Breaking Away from "Lost 3 Decades"

   Tokyo, April 1 (Jiji Press)--Japan is at a crucial moment of whether it can break away from its "lost three decades," Japanese Bankers Association Chairman Akihiro Fukutome has said.
   "We will do our best to help the Japanese economy grow again so that there will be a happy 30 years for the next generation," Fukutome, also president of Sumitomo Mitsui Banking Corp., said in a recent interview with Jiji Press.
   The lost three decades refer to the period of economic stagnation since the country's asset bubble collapsed in the early 1990s.
   Fukutome welcomed the Bank of Japan's termination of its negative interest rate policy last month, saying, "In the long term, yields on new investments and interest margins will improve, a very good development for banks' business."
   Financial situations will remain accommodative for the time being even after the BOJ policy change, which marked the first interest rate hike in 17 years, Fukutome predicted.

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AFP-JIJI PRESS NEWS JOURNAL


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