BOJ's Kuroda: Many agree the natural interest rate has fallen in recent years

Bank of Japan (BOJ) Governor Kuroda, while speaking at the 2017 BOJ-IMES Conference, said the natural rate of interest has declined in recent years, leading to unconventional monetary policies. 

Kuroda was speaking on the topic - "Monetary Policy: Lessons Learned and Challenges Ahead"

Key points

Uncertainty about the natural rate of interest makes it difficult for central banks to steer policy

Monetary policy is not a tool for redistribution of wealth