The folly of inflation targets

ARTICLE - This article says that the Bank of Japan should explain what it is intending to do to end deflation and that this will be the first step in defending its threatened independence.

First published in The Japan Times 20 January by Mamoru Ishida, a professor in the faculty of business at Hannan University.

Prime Minister Junichiro Koizumi said recently the next governor of the Bank of Japan must take aggressive action to fight deflation, giving rise to expectations of inflation targeting

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