percent: That attitude has resisted the BOJ unprecedented monetary easing program, currently running at 80 trillion a year, which was designed to lift prices, encourage consumption, and get the economy moving after decades of deflation and stagnation, according to The Japan Times. The program has failed to achieve its goals, but the central bank still wants to persuade savers to put their cash in more productive investments, such as stocks, which should provide better pension prospects for a population where 30 percent will be over 65 in 2020. More than half of Japan 1,746 trillion 15.2 trillion in financial assets are held in cash or deposits, compared with 15 percent for the United States, and even in elementary school, nearly two-thirds of children save their pocket money rather than spend it, according to a survey. But even with returns on cash at zero, households cut their stock holdings by 16.6 percent in June from a year earlier. Now it is trying to chip away at that reticence by organizing free financial seminars and encouraging other institutions to improve the nation financial understanding. This year the bank conducted a comprehensive survey on financial literacy targeting 25,000 households nationwide, and the results showed less than a third had ever invested in stocks, and 80 percent would not risk investing in assets with potential for significant returns.
(news.financializer.com). As
reported in the news.
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