In Bank of Japan chief's birthplace, Ueda's policy puzzle is laid bare [Yahoo! Finance Canada]
SUZUKI MOTOR CO UNSP/ADR (SZKMY)
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Source: Yahoo! Finance Canada
By Sakura Murakami MAKINOHARA, Japan (Reuters) - For a sense of the challenges Bank of Japan Governor Kazuo Ueda faces in weaning the world's fourth-largest economy off monetary stimulus, look no further than his birthplace. Makinohara, a breezy surf town that once thrived on a now-declining tea industry, exemplifies disparities between Japan's struggling rural areas and its bustling mega-cities. It featured this year in a widely publicised list of places on track to vanish due to depopulation. Shortly after Ueda's elevation in April 2023, the soft-spoken 73-year-old talked about the "very serious challenge" rural areas posed for Japan's recovery. Since then, the BOJ has begun to unwind massive stimulus that propped up the economy for decades. It delivered the first interest-rate hikes in 17 years on the back of national data showing rising wages and consumer demand. The bank is expected to raise rates again by year-end. Yet in Makinohara, the conundrum the BOJ faces in set
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