Japan’s high growth era was deliberately brought to an end by the BoJ who created Japan’s asset bubble so as to become the answer to the problem they thmselves had created. Read Prof Richard Werner’s “Princes of the Yen” if you really want to understand this.

“Independent” inflation-limiting Central Banks produce no accounts and a great. often corrupt, advantage to their operators and their rich shareholders. But the are of no use to anyone else.

If you lok at the evidence you will see that the adoption of WC economics and CB independence ended the economic miracles of Japan, South Korea and Taiwan,and in no case is that a co-incidence.

Shinzo Abe is trying to re-introduce Shimomuran Macroeconomics (or Maxroeconomics — I might use that mistype in future) but despite putting his own man in a governor of the BoJ has failed in doing that so far. See