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Financial News

Friday June 26, 08:59 AM

 

 

Discount clothes are displayed in front of a local clothes store at the Asakusa shopping district in Tokyo

By Toshifumi Kitamura

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Discount clothes are displayed in front of a local clothes store at the Asakusa shopping district in Tokyo. Japan was stuck in a deflationary spiral for years after its asset price bubble burst in the early 1990s, leaving the country mired in a long recession and prompting the central bank to slash interest rates to almost zero. Discount clothes are displayed in front of a local clothes store at the Asakusa shopping district in Tokyo. Japan was stuck in a deflationary spiral for years after its asset price bubble burst in the early 1990s, leaving the country mired in a long recession and prompting the central bank to slash interest rates to almost zero.


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