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BOJ's Kuroda must get radical now

Starting a second term, governor must experiment or risk failing to revive growth

| Japan
Bank of Japan Gov. Haruhiko Kuroda needs a radical rethink after trying in vain for five years to generate 2% inflation.

"The key is to find out what works and stick with it." This is a line I have heard Bank of Japan Gov. Haruhiko Kuroda use many times.

It started back when Kuroda was president of the Asian Development Bank, from 2005 to 2013. During my visits to his office overlooking the Philippine capital, Kuroda would point to the squatter village across the road and the glitzy skyscrapers in the distance. To him, the job was to experiment in a practical way, to harness scarce resources and find which policies best raised living standards. What to do more of, what to do less.

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