BOJ has done too little, says potential contender for governor

The Bank of Japan has failed to end more than a decade of deflation by being too cautious, said Takatoshi Ito, a former finance ministry official who is a contender to become the central bank’s next governor.

The bank’s board under Governor Masaaki Shirakawa, who steps down in April, has done “too little, too late,” Ito, dean of Tokyo University’s Graduate School of Public Policy, said in an interview in Tokyo. The BOJ should have started its asset-purchase program earlier and has been “extremely passive in building inflation expectations,” he said.

via Business feed http://www.scmp.com/business/economy/article/1099783/boj-has-done-too-little-says-potential-contender-governor