• BOJ should be responsible for price stability and job growth
  • Bold monetary easing steps from the BOJ will undoubtedly correct the strong yen
  • Never said that the BOJ should directly underwrite construction bonds, only said buying them from the market was an option
  • Fiscal spending via public works must accompany monetary easing to pull Japan clear of deflation
  • Japan cannot restore fiscal health whilst in deflation, as tax revenues won’t rise

Reuters headlines