Kiyohiko G Nishimura: A tale of two programs in the early resolution of the deflation problem Speech by Mr Kiyohiko G Nishimura, Deputy Governor of the Bank of Japan, at a meeting with business leaders, Niigata, 5 December 2012.
In reaction to these adversities, households seem to have become extremely downbeat about prospects for jobs and income. Business spending for equipment and software edged down in the first quarter, and the environment for capital spending remains difficult; businesses are uncertain about the economic outlook, and lenders have adopted more stringent lending standards.