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Advisers urge Japan govt to step up reviews of economic projections
Private sector advisers of Japan’s top economic council urged the government to take into account a wider range of possible changes in the economy in its semi-annual economic projections. The government should also step up its reviews of past mid- to long-term forecasts, such as when estimates differed from actual economic growth, to raise transparency and accountability, the members said in a proposal presented to the Council on Economic and Fiscal Policy (CEFP).A government official said current mid- to long-term forecasts are based on the fact that interest rates are being held down by the Bank of Japan’s ... (full story)