BOJ's Kuroda: Government and central bank must closely communicate on policy
Further comments by BOJ governor, Haruhiko Kuroda
- Doesn't think MMT is appropriate to be applied in Japan
- Says unlimited debt monetisation by a central bank will lead to hyper-inflation
He also notes that when the BOJ communicates that low rates will be kept for an 'extended period of time', he means that they are thinking of 'quite a long time'.
His earlier comments suggest that it will extend to beyond the spring of 2020 but given the way things are going, it won't even happen past that - just as we discussed last year (just copy and paste the timeline for 2020 and you'll be up to speed with the BOJ).