BoJ’s Shirakawa: monetary policy not enough against bubbles
A build-up of asset-price and credit bubbles cannot be contained by monetary policy alone and needs to be addressed by a combination of policy measures, said Masaaki Shirakawa, the governor of the Bank of Japan.
Shirakawa also said that monetary policy had to respond in an environment where all the symptoms of the economy except for inflation signalled a need for policy tightening.
The governor made the comments on 26 June.
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