The Bank of Japan missed its chance to create monetary policy space in 2017 to cope with its ageing population, a former senior BoJ official told Central Banking.
“The BoJ does not have room for monetary easing in the future to cope with ageing,” former monetary policy board member Sayuri Shirai said. It is because the BoJ is “already doing too much monetary easing”, she argued.
Shirai was responding to a speech made by BoJ governor Haruhiko Kuroda on January 17. In Kuroda’s speech he warned