BOJ's Mizuno on economic & financial globalization

In the speech 'Economic and Financial Globalization, and Challenges Facing the Central Bank' given on 28 February (published 16 April) Atsushi Mizuno of the Bank of Japan said it is desirable that the policy interest rate should gradually converge toward a level consistent with economic fundamentals, and this will contribute to minimizing the risk of economic instability.

"In the United States, the Fed has successively raised the federal funds rate target from 1 percent to 5.25 percent from June

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