BoJ's Muto on challenges facing Japan's economy

In a speech on 'Structural Changes in the World Economy and Challenges Facing Japan's Economy' Toshiro Muto of the Bank of Japan said as of now at least it is hard to say that we are sufficiently equipped, considering the several constraints surrounding the current conduct of monetary policy, to introduce an inflation target. He emphasised, however, that it would be a complete misunderstanding to conclude that the Bank is not actively implementing monetary policy to overcome deflation, based

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