– Japan’s Post-Bubble Experience in Monetary Policy Studies – ,” keynote address delivered at the Second IJCB Fall Conference entitled “Monetary Policy Lessons from the Global Crisis” hosted by the Institute for Monetary and Economic Studies, September 16, 2010 (available at http://www.boj.or.jp/en/type/press/koen07/ko1009c.htm). BIS Review 146/2010  3  the overheating in those economies.
It has also been pointed out by emerging economies about a difficulty that, if they raise interest rates while advanced economies are continuing with accommodative monetary policies, capital inflows to emerging economies will further increase against the background of the interest rate differential, thereby offsetting the effects of measures taken to restrain overheating of the economy.