Shirakawa rights wrongs of ‘lost decade’

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Masaaki Shirakawa, the governor of the Bank of Japan (BoJ), on Thursday hit back at oft-made criticisms that a timid response by the central bank to its banking crisis exacerbated the country's economic plight.

In analysing Japan's crash at the start of the 1990s and relatively anaemic economic performance since, some economists have claimed the central bank reacted too sluggishly and timidly in countering deflation.

However, rather than acting timidly, Shirakawa said the central bank introduced

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