Masaru Hayami

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Masaru Hayami

A Japanese businessman who served as governor of the Bank of Japan from 1997 to 2003. He was known for following a tight monetary policy, which was very controversial because the yen was subject to deflationary pressures at the time. He justified this by claiming that the yen could not be loosened until Japan's economy deregulated and ended the power of monopolies. He lived from 1925 to 2009.