Shirakawa: central bank liquidity measures can only ‘buy time'

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Masaaki Shirakawa, governor of the Bank of Japan, on January 10 warned that measures by central banks in developed countries will "buy time" for stricken economies, but that ultimately structural reforms were needed to return to stable growth.

Speaking at the London School of Economics to an audience that included Mervyn King, governor of the Bank of England, Shirakawa said that like Japan's response to a housing bubble in the 1990s, central banks in the US, eurozone and the UK were taking measu

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