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What is the BOJ Going to Do?
Under Kuroda's leadership the BOJ has surprised the market a number of times, most recently with the move to negative rates at the end of January. It is not that such a move, which has been tried by several European central banks, was without merit. After all, growth and inflation prospects are not very encouraging. The Bank of Japan's one mandate, to raise inflation pressures, has remains as elusive as ever. The BOJ has already pushed out the time that the inflation target will be reached three times. It may do so again at the conclusion of the BOJ meeting tomorrow. What made the end of January decision to adopt a ... (full story)
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