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

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.