Mr Yen Pessimistic About Major Reforms in Japan

With elections to Japan’s upper house of parliament around the corner, Eisuke Sakakibara, former vice finance minister of Japan, says he’s not hopeful Prime Minister Shinzo Abe will announce any ground-breaking structural reforms in the coming weeks or even thereafter.

“Because of the election, he [Abe] can’t really spill out the specifics of the reforms – radical reforms might hurt his constituency particular in the rural areas,” Sakakibara, who is currently a professor at Aoyama Gakuin University, told CNBC Asia’s “Squawk Box” on Tuesday.

“Of course, people expect structural reforms after the election but I’m not optimistic about that. It’s very difficult to bring about the structural reforms,” he added.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

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