Expansionary monetary policy – the second of three so-called “arrows” of Abenomics, after fiscal stimulus – has brought down the unemployment rate to just 3.8%. The ratio of job openings to applicants has exceeded parity, and the GDP deflator narrowed to close to zero.
但这并不是坏消息的全部。扩张性货币政策——安倍经济学所谓三支“箭”中次于财政刺激的第二支——令失业率只有3.8%。可申请岗位数/申请人数比超过1:1，而GDP 平减指数也收窄到接近于零。