Tuesday 20 November 2018
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scmp - 4 month ago

Bank of Japan, caught between Trump and a hard place, must also confront ghosts of its past

The Bank of Japan won t shock global markets this week, no matter what rabid speculation you read in the financial pages. To understand why, let s play a game of back to the future. Our first stop is 1994, when Yasuo Matsushita became the 27th BOJ governor. Matsushita, who died July 20 at 92, was at ground zero of the same deflationary mindset that the incumbent governor Haruhiko Kuroda is still struggling to defeat. Matsushita arrived four years after the 1980s...

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