This week the Japanese government approved a $182 billion package to follow through on Prime Minister Shinzo Abe’s goal of reaching 2 percent inflation in 2 years. The first arrow of the Abe plan has been successful so far. The Bank of Japan has pledged to double the monetary base and have delivered. The announcement earlier this year turned out to be one of the most pro-active actions from a Central Bank since. In a year where there was a lot of rhetoric and back tracking, the BoJ deserves a lot of credit for their actions. The effect in the Yen was almost immidiate to the point that it sparked another round of ... (full story)