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Bank of Japan's Mr. Mieno's Proposal for a 2-3% Interest Rate Hike Sparks Fierce Opposition From the Ministry of Finance's Budget Bureau, Leading to a Top-Level Meeting: A Déjà Vu of the Oil Crisis (Part 4)
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As the 1973 oil shock rocked the Japanese economy, crucial policy decisions were about to be made within the Bank of Japan and the government. Amidst the chaos and uncertainty, and with people's minds wavering, what was happening behind the scenes of monetary policy?
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