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Stimulus further reflects Kuroda's conviction to achieve inflation goal

Published Mon, Nov 3, 2014 · 09:50 PM

Tokyo

WHATEVER people may say about Bank of Japan (BOJ) governor Haruhiko Kuroda's policies ("bold", maybe, if they are admirers, or "reckless" if they are critics), no one can say that he lacks the courage of his convictions. He has again demonstrated this in the boldness of his recent policy actions.

I became aware of these convictions during a conversation shortly before Mr Kuroda was appointed governor of the BOJ. It was, he said then with a mixture of indignation and passion, "completely unnatural" for an economy to suffer deflation for many years as Japan's had been doing.

This was striking because a year or two earlier I had listened to Mr Kuroda's predecessor at the BOJ, Masaaki Shirakawa, expounding a different philosophy during a lecture in…

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