Haruhiko Kuroda – The Pressure to ‘Do More’ Rises

Jon Alternative Media, Economy, Fiscal Policies, Government

BoJ Leaves Policy Unchanged, but What Comes Next? The Bank of Japan has employed QE programs since March of 2001 (in February of 2001, it still claimed that ‘QE will be ineffective’ – it was right then, for the last time). These have had no effect apart from making a Keynesian government spending orgy possible that is unique in terms of its size in the post WW2 developed world. It is also unique insofar as it hasn’t yet blown up.
QE was briefly interrupted in 2006, when the BoJ reduced the monetary base by 25% within a few weeks (this barely affected the money supply, although we have to add the caveat that Japanese money supply data are not directly comparable to Western ones).

This post was published at Acting-Man on October 31, 2015.