Huw McKay, Senior International Economist at Westpac Bank Sydney, says the Bank of Japan needs to be more aggressive in tackling deflation. For the additional funding programme to encourage bank lending to be effective, there has to be demand for corporate credit. He explains the structural problems of the Japanese economy.

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Tags:  Japan,  Japanese economy,  Bank of Japan,  Westpac Bank,  Deflation,  Monetary policy,  Japanese Yen,  Huw McKay