Ex-BOJ chief sees "modest" effect in Japan's massive monetary easing

Former Bank of Japan Governor Masaaki Shirakawa has criticized the powerful monetary easing undertaken by his successor and current chief Haruhiko Kuroda, saying its impact on inflation and economic growth has been "modest."Monetary policy has become a "quick fix" to structural problems that require more robust reforms, Shirakawa said in a magazine published Wednesday by the International Monetary Fund. He called for central bankers to reflect on the reason for and consequences of prolonged monetary easing.Under Kuroda, who succeeded Shirakawa in 2013, the BOJ has embarked on powerful monet…READ FULL ARTICLE