It was determined at today's meeting that we cannot say that core consumer prices have stabilized above zero. The bank has not decided when to shift its policy.
More Quotes from Toshihiko Fukui:
As the new endogenous growth theory suggests, TFP growth is closely related to accumulation of the intangible capitals, such as human capital and research and development.Toshihiko Fukui
Our top priority is to help bring about sustained economic growth, and moving out of deflation is only half way there.
Toshihiko Fukui
The aging and declining population will have far-reaching impacts. Declining fertility rates will possibly increase immigration. The structure of family and society will inevitably change.
Toshihiko Fukui
The increased global linkages promote economic growth in the world through two key mechanisms: the division of labor and the international spillovers of knowledge.
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
Recent empirical studies, however, show such short run effects become small because the exchange rate pass-through to import prices declines.
Toshihiko Fukui
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