TOKYO : The Bank of Japan has modified its stimulus measures to ease the transition away from an unconventional monetary policy when Governor Haruhiko Kuroda retires in April, former top currency diplomat Takehiko Nakao told Reuters in an interview.
"The BOJ has not succeeded so much in raising inflation expectations and bringing down real interest rates while side-effects became larger. I was thinking the current framework must be modified sooner or later," he said. Nakao was president of the Asian Development Bank from 2013 through 2020 and is now"Chairman of the Institute" at Mizuho Research and Technologies, part of Mizuho Financial Group Inc, Japan's third-biggest commercial bank.
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