This podcast episode focuses on Japan's transition from deflation to low-flation, which was a significant economic shift between 1993 and 2012. The introduction of Abenomics in 2013 led to this change, resulting in an average inflation rate of 0.5% from 2013 to 2019. The speakers discuss the impact of moderate inflation on Japan's economy, emphasizing its role in stimulating spending and investment. They also delve into the factors that contributed to this successful inflation outcome and highlight the importance of sustained accommodative macro policies for keeping inflation expectations stable. Additionally, the podcast previews upcoming episodes that will further explore the implications of Japan's nominal GDP path, BOJ's policy outlook, and structural reforms.