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Bank of Japan's policy dilemma has echoes of Fed history

Potential candidate to lead BOJ has perspective on ending crisis role

Bank of Japan Deputy Gov. Masayoshi Amamiya, left, has been the architect of many of the monetary policies adopted under BOJ Gov. Haruhiko Kuroda (Source photos by Yoichi Iwata and pool photo)

TOKYO -- Since its battle with deflation began the late 1990s, the Bank of Japan has elicited a mix of hope and anger, often out of proportion with its role. But the obvious truth -- that the central bank cannot change Japan through monetary policy alone -- became undeniable only during the past decade.

With Gov. Haruhiko Kuroda's term set to end on April 8, the time for the BOJ to lay down its lonely burden may be drawing closer.

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