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William Pesek

Is It Time to Rethink Forward Guidance?

Transparency doesn't seem to be having the impact it once did.
Maybe central bankers should talk less.

Maybe central bankers should talk less.

Photographer: Manuel Dunand/AFP/Getty Images

Arguably, no central banker in the world has been bolder and more aggressive about quantitative easing than Japan's Haruhiko Kuroda. Yet his $700 billion in bond purchases every month have failed to generate the 2 percent inflation targeted by the Bank of Japan: New figures released on Friday showed that core consumer price inflation had once again flattened to zero in February.

QuickTake Forward Guidance