Speech by BOJ dep gov Toshiro Muto

Toshiro Muto, Deputy Governor of the Bank of Japan, asks "What Have We Learned from "Unconventional" Market Operations?" and assures that the BOJ will "continue to exert every effort to enhance the transmission mechanism of monetary policy, while ensuring the smooth provision of funds within the framework of quantitative easing."

I. Monetary Policy in Uncharted Territory

As the Japanese economy has been facing severe adjustment in recent years, the Bank of Japan has effected various measures that

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