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Investing.com - Bank of Japan Governor Haruhiko Kuroda said Wednesday that policymakers have learned from the recent global financial crisis that central banks can conduct monetary easing to support growth and stable inflation even under near-zero interest rates.
"It is possible to implement monetary easing even in a situation where the policy rate is around zero percent," Kuroda said in an opening speech to the BOJ's international conference on "monetary policy in a post-financial crisis era."
"After exhausting conventional policy measures by lowering the policy rate virtually to the zero lower bound, central banks in advanced economies have been underpinning economic recovery in the wake of the recent global financial crisis by using unconventional policy tools, such as asset purchases and forward guidance."
He also said that "expectation management through communication with the market is critical to guiding the economy toward recovery."
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