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The Bank of Japan leaves it key rate unchanged, expands its asset purchase program to ¥45T...

  • Thursday, July 12, 2012, 2:23 AM ET
    The Bank of Japan leaves it key rate unchanged, expands its asset purchase program to ¥45T ($564B) from ¥40T, and cuts its loan facility to ¥25T from ¥30T. "This is simply a technical move that shouldn’t be considered to be monetary easing," says JPMorgan economist Masaaki Kanno. (BOJ statement)
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This news story has 2 comments:

  •  
    Japan has been 'purchasing assets' since 1989, haven't they? Nothing to show for it but a slow, continuous deflation. That is what paying new month to protect old debt does, it suffocates the economy.
    12 Jul 2012, 04:51 AM Reply Like
  •  
    Japan is an interesting story. What ever it is that they are doing must be working otherwise they wouldn't be doing it. After all I think it was the Japanies who came up wth the original statement .... if what your doing isn't working stop doing it. Maybe they are in a catch 22 and see no way out. Hopefully it won't be a matter of stupid is as stupid does.
    12 Jul 2012, 07:40 AM Reply Like
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