News From Japan

Aug 04 Japan yet to fall into deflation: economic minister Hayashi (AP)

Economic and Fiscal Policy Minister Yoshimasa Hayashi said Tuesday it is too early to say that Japan has fallen into deflation despite recent record falls in the nation's key consumer price index. "It would be premature to say that Japan is in deflation at this stage," Hayashi told reporters after a Cabinet meeting, pointing to a mild decline in consumer prices when excluding food and energy.

Aug 04 Japan's economy to show 4.1% growth in April-June qtr: economists (AP) (RUBBISH)

The Japanese economy is expected to show an annualized real expansion of 4.1 percent in the April-June period, marking the first increase in five quarters on recovery in exports and the government's economic stimulus package, according to economists polled by Kyodo News. The average projection, measured by real gross domestic product, contrasts sharply with the 14.2 percent fall in the January to March quarter, the worst slump since comparable data became available in 1955.

Aug 04 Japanese civil servants set to see largest cut in bonuses (AP)

The National Personnel Authority will soon recommend a reduction in winter bonuses for Japan's national civil servants, which is likely to lead to the largest contraction in their annual bonuses, sources familiar with the matter said Monday. The latest step is expected to result in a cut of 0.35 month worth of salary, the largest yearly reduction since the authority recommended a cut of 0.3 month worth of salary in fiscal 1999.