Kuroda draws on lessons from Paul Volcker’s Fed tenure
Bank of Japan governor Haruhiko Kuroda stressed the importance of embedding 2% inflation into the "country's social system and practices" in a speech on December 25, a day before it emerged that annual CPI inflation had surpassed 1% for the first time in five years.
Kuroda told Japan's Business Federation that, to overcome deflation for good, it was imperative the notion of 2% inflation was factored into price- and wage-setting. He gave the example of Sweden, where the Sveriges Riksbank's
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