Central banks must remain on guard against the potential dangers of secular stagnation and low inflation as price rises driven by cost-push factors do not last long, Bank of Japan (BOJ) Deputy Governor Masazumi Wakatabe said on Monday.Japan's economy was in deflation for a prolonged period, but sustainabl
Central banks must remain on guard against the potential dangers of secular stagnation and low inflation as price rises driven by cost-push factors do not last long, Bank of Japan Deputy Governor Masazumi Wakatabe said on Monday.
"The mild-inflation regime has not come to an end, and we should say that the potential dangers of secular stagnation and Japanification have not yet passed," he said in a speech delivered at Columbia University in New York. While inflation has recently accelerated across the globe, many of the factors pushing up prices are driven by higher costs such as the war in Ukraine, Wakatabe said.
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