The increased global linkages promote economic growth in the world through two key mechanisms: the division of labor and the international spillovers of knowledge.

We’ve just ended quantitative easing so it is too early to say when to end the zero (interest) rate policy.

It was determined at today’s meeting that we cannot say that core consumer prices have stabilized above zero. The bank has not decided when to shift its policy.

However, in spite of the general perception that monetary policy should be conducted so as to avert deflation, a central bank cannot lower interest rates below the zero lower bound.

Our judgment now shows the economy has almost broadly emerged from a stalled stage,

The staff at the Institute will present an analysis on how asset price fluctuations and subsequent structural adjustments influence sustained economic growth, based on Japan’s experience since the second half of the 1980s.

However close attention will have to be paid to rising crude oil prices and their impact on the domestic and overseas economies.

Our intention is not to move to credit tightening now.

There is no reason to think now that interest rates will be left at zero for a just a short while after quantitative easing has ended and no reason that they will be zero for...

I certainly welcome discussions on how central banks can best contribute to sustained economic growth and sound development of the global economy.