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Half of Japan hasn’t heard of central bank’s stimulus plan

[TOKYO] Bank of Japan (BOJ) governor Haruhiko Kuroda's epic challenge has been as much about changing the way people think as it has been the intricacies of interest rates and the money supply.

So one assumes it had to sting a little when the central bank's latest quarterly survey of households found that 50 per cent of respondents "have never heard of" Kuroda's historic monetary stimulus programme. That's the highest level since the question was introduced in September 2013, six months after Mr Kuroda took over at the BOJ.

It might help explain why Kuroda's goal of uprooting Japan's deflationary mindset isn't exactly going according to plan. Mr Kuroda has repeatedly said in recent years those expectations have proved more entrenched than he first thought.

The survey was conducted between Feb 7 and March 5 and received 2,127 responses.

BLOOMBERG

sentifi.com

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