August 29, 2018 / 5:27 AM / a year ago

BOJ's Suzuki says need to see if any positives can offset mobile fee cuts

NAHA, Japan (Reuters) - Bank of Japan board member Hitoshi Suzuki said on Wednesday he wanted to see whether any positive factors emerge to offset an expected decline in consumer prices if mobile phone charges are lowered.

The government is pressuring mobile carriers to lower the burden of smartphone costs for households, hoping that would stimulate spending in other areas and boost overall consumption.

But some economists say that measure could backfire if smartphone users don’t immediately start spending elsewhere.

Reporting by Takashi Umekawa; Writing by Stanley White; Editing by Chang-Ran Kim

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