Haruhiko Kuroda, governor of the Bank of Japan, listens to a question after delivering the Michel Camdessus Central Banking lecture at the International Monetary Fund in Washington on July 22. Photo: Bloomberg
Anthony Rowley
Opinion

Opinion

Macroscope by Anthony Rowley

As the Federal Reserve and ECB follow in the Bank of Japan’s footsteps, they skirt some inconvenient truths

  • Japan’s central bank pioneered the policy of zero interest rates and easy money, now seen as a panacea for the world’s economic ills. However, the side effects of this model are not fully known, nor how long it can continue without posing system risks

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Haruhiko Kuroda, governor of the Bank of Japan, listens to a question after delivering the Michel Camdessus Central Banking lecture at the International Monetary Fund in Washington on July 22. Photo: Bloomberg
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