Ex-deputy Muto endorses Bank of Japan’s anti-inflation targeting stance
Toshiro Muto, a former deputy governor of the Bank of Japan (BoJ) and one-time contender for the top job, on Friday threw his weight behind the central bank's resistance to adopting an inflation targeting framework.
"I don't think introducing an inflation target would stamp out deflation at all," Muto said at an event in Tokyo. The remark was spurred by pressure between the central bank and Naoto Kan, the Japanese prime minister, who is a known proponent of the inflation targeting framework.
The
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