円相場「もっと円高に」57% 「現在が望ましい水準」は16%－日経世論調査
The widespread sentiment of "Can't stand this weak yen anymore!" has been clearly reflected in a Nikkei poll. A striking 57% of respondents desire a stronger yen, while only 16% are satisfied with the current exchange rate. This sentiment echoes online with cries like, "Of course! Life's tough!" and "I want to travel abroad!"
Related Keywords
Yen Exchange Rate (Foreign Exchange Rate)
The yen exchange rate, or foreign exchange rate, refers to the ratio at which different national currencies are exchanged. For example, if 1 dollar equals 150 yen, it means 150 yen are required to exchange for 1 dollar. If this ratio becomes 1 dollar to 140 yen, it is called a "stronger yen" (yen appreciation), and if it becomes 1 dollar to 160 yen, it is called a "weaker yen" (yen depreciation). A stronger yen has benefits such as making foreign goods cheaper and reducing the cost of overseas travel, but it pressures the profits of export companies. Conversely, a weaker yen leads to higher import prices and more expensive overseas travel, but it boosts the competitiveness of export companies and promotes inbound tourism. The fact that 57% of respondents in this poll desired a "stronger yen" largely reflects the current situation where soaring import prices, especially for daily necessities like gasoline and food, are burdening household budgets. In recent years, a rapid yen depreciation has been ongoing, driven by factors such as the widening interest rate differential between Japan and the U.S. and rising resource prices, with many citizens feeling its impact firsthand.
Nikkei Poll
The Nikkei Poll refers to public opinion surveys regularly conducted by the Nikkei Inc. (Nihon Keizai Shimbun). Public opinion surveys conducted by newspaper companies and news agencies aim to grasp public sentiment on specific policies and social conditions and present them to society through reporting. Due to Nikkei's characteristic as an economic specialized newspaper, its surveys tend to focus heavily on public awareness regarding economic policies and business conditions. Common survey methods include telephone surveys (RDD method: randomly extracting phone numbers) and internet surveys, with sampling adjusted for age, gender, region, etc., to avoid bias towards specific demographics. The fact that a majority in this survey desired a "stronger yen" suggests significant public dissatisfaction and concern regarding the government's and the Bank of Japan's monetary policies, particularly their seemingly permissive stance towards the current yen depreciation. The results of such public opinion surveys can, to some extent, influence the government's future economic policy management and the Bank of Japan's monetary policy decisions.
Real Effective Exchange Rate (REER)
The Real Effective Exchange Rate (REER) is an index that measures the comprehensive purchasing power and international competitiveness of a country's currency, which cannot be solely measured by nominal exchange rates (e.g., the USD/JPY rate). It is calculated by weighting the exchange rates against multiple trading partner currencies by their respective trade volumes, and further adjusting for differences in inflation rates among countries. For instance, even if the nominal yen exchange rate has not depreciated, if Japan's domestic inflation rate is lower than other countries, the real value of the yen is relatively increasing. Conversely, as is currently the case, if nominal yen depreciation is progressing, and Japan's relative inflation rate remains low, the REER further declines. In Japan's case, this REER has fallen to its lowest level in approximately 50 years since the transition to a floating exchange rate system in 1973. This signifies a significant decline in Japan's international purchasing power and profoundly impacts citizens' livelihoods and international economic standing. The desire for a "stronger yen" in this poll is deeply linked to the deterioration of real living standards caused by this decline in real purchasing power.