Haruhiko Kuroda: Globalization and monetary policy

Panelist speech by Mr Haruhiko Kuroda, Governor of the Bank of Japan, at the BIS Symposium to mark the 20th Anniversary of the BIS Representative Office for Asia and the Pacific, Hong Kong, 15 October 2018.

The views expressed in this speech are those of the speaker and not the view of the BIS.

First of all, I would like to extend my sincere congratulations to General Manager Carstens, Dr. Remolona, Chief Representative for Asia and the Pacific, and other staff members of the BIS Asian Office on the Office's 20th anniversary. Over the past twenty years, the Asian economies have experienced significant changes, particularly improvements in resilience to external shocks. The BIS Asian Office has played an important role in these improvements, including by enhancing cooperation among central banks in the region. I will touch upon the importance of regional cooperation in promoting global monetary and financial stability later, but let me first discuss price and financial stability within individual economies under globalization.