[At] thesametime, wealsohavethe U.S. risingtreasuryyieldsandtheinterestratedifferentialbetweenthe U.S. andJapanesecurrencyandJapaneseeconomyiscertainlynothelpingtheJapaneseyen.
That's whywearehavingBOJgovernorthismorningwarningthattheweakyencouldlikerisingrisksinthecountry, especiallyovershootingpricesas a whole.
Andinthemeantime, thesefactorscouldactuallyputJapaneseauthoritiesintermsofBOJandalsotheMinistryofFinanceinto a dilemmabetweensupportingJapanesegrowthaswellasstabilizingtheyen.
TheJapaneseyenhasfallensharplyto a 34-yearlowagainstthe U.S. dollar.
A positiveforvisitors, butJapaneseconsumersarefeelingthepinch.
(SpeakinginJapanese) I thinkhotels, transportationcostsandrestaurantsaremoreexpensive. Thethingsthatforeigntouristssayarecheapareincrediblyexpensiveforus.
(SpeakinginJapanese) I washappyaftertheCOVID-19 pandemicendedsince I wasabletogoabroadagain, butthisweakyensituationispullingmebackfromtraveling.
In 2003, PrimeMinisterJunichiroKoizumistarted a tourismcampaign.
In 2019, itseconomicimportancegrewtoasbigasJapan's semicon-relateddeviceexport.
DomesticconsumptionremainedweakonthebackofJapan's economicstalemate, a fallingandfast-agingpopulation, sotourismbecamethenewgrowthsegmentfortheJapaneseeconomy.