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Japan is firing its financial arrows at the wrong target

Abe should aim at raising wages, not prices, to boost economic growth

| Japan
Bank of Japan Gov. Haruhiko Kuroda speaks to Prime Minister Shinzo Abe at a House of Representatives Budget Committee meeting.

The debate over Haruhiko Kuroda getting a second term as Bank of Japan governor is close to pointless.

Prime Minister Shinzo Abe will almost certainly reappoint Kuroda when the BOJ head's term ends in April, since Kuroda's epic monetary easing has been the most successful arrow in the quiver of Abenomics. The yen is down 32%, corporate profits are thriving and the Nikkei Stock Average is breaking records again.

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