Economics
Kuroda and His Monetary Experiment Roll On in Record BOJ Tenure
- Japan’s new premier likely to rely on Kuroda’s steady hand
- Critics slam distortions, risks of seemingly futile price goal
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Haruhiko Kuroda is poised to become the Bank of Japan’s longest-running governor at the end of this month, testimony to his ability to keep political and market pressure at bay despite the failure of his unprecedented monetary experiment to spark inflation.
When Kuroda took the helm in March 2013, then Federal Reserve Chair Ben Bernanke was fretting over plans to taper bond buying. Mario Draghi at the European Central Bank was saving the euro with “whatever it takes” and Mark Carney was still months away from joining the Bank of England.