Masazumi Wakatabe: Japan's economy and monetary policy

Speech by Mr Masazumi Wakatabe, Deputy Governor of the Bank of Japan, at a meeting with business leaders, Aomori, 27 June 2019.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Introduction

Good morning. It is my pleasure to have the opportunity today to exchange views with administrative, financial, and business leaders in Aomori Prefecture. This is my first meeting of this kind since the start of the Reiwa era. Aomori Prefecture is blessed with a rich natural environment such as the Shirakami Mountains, which are registered as a World Heritage site, Lake Towada, and the Hakkoda Mountains. It has a long history represented by a Jomon clay figurine designated as a national treasure, as well as the Sannai-Maruyama Site. It also is an area distinguished by a rich culture that has produced many intellectuals and artists, such as Shoeki Ando (philosopher), Osamu Dazai (novelist), Shuji Terayama (poet and playwright), and Noriko Awaya (singer). The Bank of Japan's Aomori Branch was established in 1946. I heard that, due to a shortage of materials at the time, there were great difficulties in constructing the branch building. Since then, the branch has operated to the present owing to support from people in the region. I would like to take this opportunity to express my sincere gratitude for your cooperation with the activities of the branch.