AUTOREFRESH 
BOJ’s Shirakawa: Latest step is additional monetary easing
By Gerry Davies || March 17, 2010 at 07:48 GMT
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- Is not QE
- BOJ aims to support private demand by pushing down long-term rates
- Wants broad understanding of BOJ’s easy stance to boost economy
- Japan economy somewhat overshooting BOJ’s forecasts
- BOJ’s step aimed at ensuring economic, price recovery
- Will take time for prices to return to desireable level. No miracle step that would lift prices
- Will examine effect, drawbacks of each step in guiding monetary policy
- BOJ policy alone cannot help beat deflation
- Split vote will not hurt BOJ credibility
Translation: we will give all of our beloved, overseas-located but Japanese-headquartered, corporations a stronger JPY right now (in which they can cash all their USD and EUR receipts into JPY tax-paying chips, depositing them into the government’s coffers, very shortly – thank you very much), but because we fear that the very deflationary bottom (or, what is now almost a 30-year decline in real GDP) is still nowhere in sight, we are going to double the size of our “special 3-month loan program”, in the hopes that all of you patriots out there will buy something, anything, whatever…. please, just buy (before we must shame the nation by reporting that “the ancient enemy” is now bigger than our economy): http://www.measuringworth.org/datasets/japandata/result.php