Shirakawa says central banks not responsible for structural issues

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Bank of Japan governor Masaaki Shirakawa said in a speech on April 18 that "central banks cannot reasonably deliver solutions to structural issues".

The governor was addressing the Foreign Policy Association in New York. He cited the example of the eurozone crisis to illustrate his views on the limitations of the capacity of central banks.

He said the actions of the European Central Bank's refinancing operations had restored "relative calm" to the financial markets, but that it must also be

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