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Bank of Japan Vows to Stick with Easy Money Policy; If It Doesn’t Work, Do More of It

globaleconomicanalysis.blogspot.com / By Mike “Mish” Shedlock / December 12, 2013 8:06 PM

The massive number of Yen shorts may be a caution signal, but fundamentally, Japan’s prime minister Shinzo Abe is out of his mind with his inflation policies.

Abe hijacked the Bank of Japan with policy appointments under his influence and now the BoJ vows to stick with easy money policy even though over 100% of the recorded inflation is due to the declining yen, not higher wages as Abe wants.

The Financial Times reports Bank of Japan Vows to Stick with Easy Money Policy.

 The Bank of Japan will keep its highly expansionary monetary policy in place until inflation hits and stabilises at its 2 per cent target, the central bank’s governor said on Thursday, adding it would take more easing measures if price rises flagged.

“We intend to achieve the 2 per cent inflation target and maintain that in a stable manner,” Haruhiko Kuroda told the Financial Times, suggesting ultra-easy money could remain

“It’s not good just to touch on 2 per cent inflation and then go down to 1 per cent or less than 1 per cent.”in place well beyond the two-year timeframe the BoJ has given itself to reach the goal.

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