BoJ’s Sato sees macro-prudential comms issue
Central banks must argue ‘persuasively’ the case for action
Bank of Japan policy board member Takehiro Sato highlighted three issues surrounding the implementation of macro-prudential policy in a speech last night – including the timing of the measures.
Speaking at the Japan Society in London, Sato said the timing of implementation was of "crucial importance", but it can be hampered by a lack of understanding around how to identify financial imbalances.
A second issue, he said, is the communication of the policy around the time of implementation. "It is
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