The Financial Times (via Fast FT, gated) is out with what must the quote of the day/week/month …
- The Bank of Japan has been criticised in the past for a lack of bold action to fight deflation, but Mr Kuroda promised to “drastically convert the deflationary mindset” with monetary easing “that is totally different from past policies.”
- In short, this isn’t your grandfather’s Bank of Japan.
Referring to Bank of Japan (BOJ) Governor Kuroda’s speech today, here
Included in the Fast Ft post is their brilliant graph of Japanese inflation sans the sales tax influence …. and it ain’t pretty:
More:
- Few analysts were expecting the central bank to expand its stimulus programme last week. To the question of “why now?”, My Kuroda said he wanted to preempt any downward pressure on prices, as consumer price inflation stalled a few months ago and has been slowing since
