Japanese mills welcome monetary stimulus-but fear Abe's measures will take time to work

摘要

Japan's steelmakers have welcomed new government policies aimed at pulling the country out of its decades-long decline, butwarn thatthe steel industry will not feel the benefits for some time. "Abenomics", named after Japan's new prime minister Shinzou Abe, is intended to create a massive monetary stimulus by effectivelyforcingthe Bankof Japan to flood the economy with cheap money. The hope isthat this will spur greater lending by banks and thereby drive up corporate investment and consumer spending. The move has been coupled with a deliberate weakening of the Japanese currency to stimulate exports.