"It looks like they have crossed the Rubicon," says former BOJ member Eiji Hirano of the bank's...

|By:, SA News Editor

"It looks like they have crossed the Rubicon," says former BOJ member Eiji Hirano of the bank's decision to expand QE and set a positive inflation target. Far from filling the output gap, Hirano envisions a "nightmare scenario" of a weaker yen, stocks, and JGBs as the central bank is viewed as financing government spending.