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. (Toshihiko Fukui)

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.

Toshihiko Fukui

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avert bank bound central general interest lower perception policy should spite zero deflation rates

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