Kuroda Rejects Idea of Helicopter Money, Citing Legal Hurdles

Bank of Japan Governor Haruhiko Kuroda said he isn’t thinking about using so-called helicopter money and that the notion contradicts the law.

With inflation and economic growth still lagging, debate in Japan has turned to the policy idea coined by Nobel laureate Milton Friedman in 1969. Such an initiative could involve the government selling debt straight to central bank for newly printed money that’s then injected directly into the economy via tax cuts or spending programs.