Central bank veterans are lining up to highlight the Achilles’ heel of Prime Minister Shinzo Abe’s economic revival plan: the world’s fastest aging society.
All five ex-Bank of Japan officials in a Bloomberg News survey said any gains in government bond yields will be contained over the next two years, with four of them seeing little chance that the BOJ will achieve its 2 percent inflation target. People 65 or older accounted for 22.1 percent of Japan’s total population in 2007-2011, the highest global proportion, according to Bloomberg Rankings.
