A think-tank affiliated with the Bank of Japan has issued an academic paper arguing that ditching negative interest rates could help accelerate inflation, a sign debate within the bank about the rising cost of prolonged monetary easing is growing. While the paper does not represent the official central bank view, it has been interpreted by some market participants as a sign the BOJ is becoming more open to debating a future exit from its massive stimulus program. “The paper likely won’t have major policy implications for near-term monetary policy,” said Ryutaro Kono, chief Japan economist at BNP Paribas. “But there’s ... (full story)