Adviser to Takaichi's policy circle says weak yen is good for economy [Yahoo! Finance]
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Source: Yahoo! Finance
rising import costs can be offset by aggressive fiscal spending, said Takuji Aida, an economist advising the policy circle of Japan's likely new premier Sanae Takaichi. In an interview with Reuters, Aida brushed off concern that aggressive spending could further weaken the yen, which in turn would push up import costs, potentially accelerate inflation and weigh on consumption. "We've developed a defeatist mindset, thinking that a weaker yen is bad. That's a major mistake," Aida, chief Japan economist at Credit Agricole, said on Wednesday. The yen's current depreciation is beneficial, as it coincides with rising stock prices and growing investor confidence in Japan, he said, adding that burdens from rising import costs could be eased by proactive fiscal policy. The Japanese currency's sharp appreciation after the burst of an asset-inflated bubble prompted companies to cut or shift overseas jobs and investment, Aida said. "At 140 or 150 yen to the dollar, it becomes viable to
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