Bank Of Japan Launches 'Unprecedented' $1.4 Trillion Stimulus Package * Kuroda says took all steps BOJ could think of By Leika Kihara and Stanley White Reuters | Posted: 04/04/2013 1:39 am EDT TOKYO, April 4 (Reuters) - <B>The Bank of Japan unleashed the world's most intense burst of monetary stimulus on Thursday, promising to inject about $1.4 trillion into the economy in less than two years, a radical gamble that sent the yen reeling and bond yields to record lows.</B> New Governor Haruhiko Kuroda committed the BOJ to open-ended asset buying and said the monetary base would nearly double to 270 trillion yen ($2.9 trillion) by the end of 2014 in a shock therapy to end two decades of stagnation. The Bank of Japan is already committed to bond purchases of $140bn a month in 2014. This is almost double the US Federal Reserve's net purchases (around $75bn a month), and five times as much as a share of GDP. "This is an unprecedented degree of monetary easing," a smiling Kuroda told a news conference after his first policy meeting at the helm of the central bank. "The result is nothing short of regime change," HSBC's Japan economist Izumi Devalier said in a report. http://www.huffingtonpost.com/2013/04/04/bank-of-japan-stimulus_n_3011748.html?utm_hp_ref=business Japan has launched all out currency war ?
This will be interesting. I can see Obama saying, "see they can do it. Why can't I do it? I would like to have $1.4 trillion or more to spend and hand out to my friends. Can you imagine how much of that would come back to me after I'm out of office?!"
So how much do you think price inflation will be in Japan... after doubling up the monetary base? anything to worry about?
rather that fix their economies and lower spending and taxes significantly... politicians would rather mortgage their childrens future. and tax the crap out of their people by debasing their currency. We live in a world for of a sickness called big govt.