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Old and new challenges for monetary policy

· Kazuo Ueda, Governor of the Bank of Japan (Japan)

Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, inflation and price stability

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· Kazuo Ueda Wiki · Bank of Japan WikiOld and new challenges for monetary policy

ContextOpening remarks by Ueda Kazuo, Governor of the Bank of Japan, at the 2023 Bank of Japan and Institute for Monetary and Economic Studies (BOJ-IMES) conference, hosted by the Institute for Monetary and Economic Studies, Tokyo, 31 May 2023.

Why it mattersUeda reviews how inflation dynamics have changed in Japan.

Problems raised
  1. Monetary policy faces old and new challenges.
  2. Japan struggled with low inflation for decades.
  3. Inflation dynamics have changed recently.
Solutions proposed
  1. Learn from past research and experience.
  2. Adapt monetary policy to new circumstances.
  3. Use academic conferences to share ideas.
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