However, in spite of the general perception that monetary policy should be conducted so as to avert deflation, a central bank cannot lower interest rates below the zero lower bound.
More Quotes from Toshihiko Fukui:
However close attention will have to be paid to rising crude oil prices and their impact on the domestic and overseas economies.Toshihiko Fukui
The time by which core prices will achieve stable gains is getting pretty close, ... That means interest rates will eventually head toward positive territory.
Toshihiko Fukui
They emphasize the viewpoint that the protracted economic stagnation in Japan derives from incomplete economic adjustments to significant changes in relative prices.
Toshihiko Fukui
In fact, the recent increase in intra-firm trading enables businesses to shift their activities across borders smoothly, thereby strengthening the response of economic activity to exchange rate movements in the long run.
Toshihiko Fukui
Japan's economic situation is at an important stage. Price judgment is needed about the future course, but I have no determined idea,
Toshihiko Fukui
The downward rigidity of nominal wages is often pointed out as a factor that prevents the smooth adjustment of real wages under very low inflation.
Toshihiko Fukui
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