BOJ Gov Kuroda: difficult to achieve balanced economic growth with monetary policy alone - IMF annual meeting
- will adjust monetary policy if necessary to maintain economic momentum and achieve 2% inflation target
- there will not be any significant changes in management of BOJ balance sheet under the new policy framework
- don't think there was a strong feeling shared among G20 that monetary policy was reaching its limits or that an over-reliance on monetary policy was causing big problems
- from the viewpoint of policymakers, a negative interest rate policy and asset purchases are not mutually exclusive
- Based on Japan's experience, the argument that a central bank can lift inflation expectations of various entities simply by raising its inflation target seems a bit naive to me