BOJ Stimulus: Never Less Effective?

The video discusses the challenges faced by the Bank of Japan in implementing effective monetary policy. Despite significant expansion of the monetary base, the money multiplier has decreased, indicating inefficiencies in financial activity. Japanese banks have high deposits but low lending rates, reflecting low borrowing demand in a slow-growth environment. The video explores potential future policies, including negative interest rates, and highlights the global implications of these challenges.

What are the implications of Japanese households and corporates not borrowing in a low growth environment?

What potential monetary policy changes could be expected from the Bank of Japan?