Haruhiko Kuroda: Overcoming deflation – the Bank of Japan’s challenge Speech by Mr Haruhiko Kuroda, Governor of the Bank of Japan, at the Council on Foreign Relations, New York, 10 October 2013. *  *  *  Introduction Good morning. I am honored to be given an opportunity to speak this morning at the longestablished Council on Foreign Relations.
Today, I will talk about what Japan’s deflation is all about and what challenges Japan is faced with, followed by how the Bank of Japan is trying to overcome deflation. I. Deflation that Japan has been experiencing  Japan has been mired in deflation for the past 15 years. Let me bring up some figures.