Sustainable improvement in income: rise in labor productivity  A rise in labor productivity is important in terms of providing support for improvement in economic activity and income in the longer run, as this means strengthening the foundations for Japan’s economic growth. If prospects for a sustainable improvement in income are widely acknowledged, private consumption will continue to be resilient.
1/2  BIS central bankers' speeches  This leads to a complex policy challenge that will require our focus throughout the rest of 2021 and beyond: firstly, over what timeframe, and subject to what economic conditions, should the government begin to taper its direct financial supports for businesses?