While keeping such a mechanism in mind, on a number of occasions, I have  3  12  Please see Masaaki Shirakawa, “The Bank of Japan’s Efforts toward Overcoming Deflation” (Speech at the Japan National Press Club in Tokyo), February 17, 2012. http://www.boj.or.jp/en/announcements/ press/koen_2012/data/ko120217a1.pdf  BIS central bankers’ speeches  been emphasizing that in order for Japan’s economy to overcome deflation and return to a sustainable growth path with price stability, we need two things: first, having a wide range of economic agents exert efforts to strengthen the economy’s growth potential; and second, support from the financial side.
*  *  *  The overwhelming interconnectedness of modern economy on the global scale has been positively confirmed over the last several weeks when the whole world was shaken by turbulences in international capital markets.