BoJ’s Morimoto says productivity improvements needed to promote growth

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Bank of Japan (BoJ) policy board member Yoshihisa Morimoto says improvements in labour market productivity are central to achieving economic growth in Japan.

Morimoto said in a speech released in English on April 30 that the demand-side challenges faced by the Japanese economy were being met by expansionary monetary policy, but this could only do so much. "The key to enhancing the growth potential of Japan's economy lies in improving labour productivity in service industries by, for example

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