BOJ Veterans to ECB Pick Demographic Holes in Abe

BOJ Veterans to ECB Pick Demographic Holes in Abe

Yuriko Nakao/Bloomberg

An elderly couple sit by the side of a road on Gogo Island in Matsuyama, Ehime Prefecture, Japan. “What creates Japan’s deflation is the aging of society,” said Hideo Kumano, the chief economist at Dai-Ichi Life Research Institute Inc. in Tokyo.