Ishiba gestures to a post-Abenomics future

key takeaways

• Prime Minister Ishiba Shigeru has begun outlining a new economic program that moves beyond the three arrows of Abenomics in important ways.
• Most notably, the government and Bank of Japan (BOJ) are transitioning away from the dependence on macroeconomic stimulus that prevailed for most of the past decade.
• The government will use incomes and industrial policies to promote high-value-added growth over the longer term.