BOJ Should Seek 10-Fold Easing, Yen at 100, Ex-Board Member Says
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The Bank of Japan should boost monetary easing 10 fold to weaken the yen and preserve an export-led economic recovery, said an ex-board member who predicted the central bank’s first move to zero interest rates more than a decade ago.
“The Japanese economy will collapse unless the yen weakens to 100 per dollar,” Nobuyuki Nakahara, who served as a policy board member between 1998 and 2002 under then BOJ Governor Masaru Hayami, said in a Nov. 4 interview in Tokyo. “It’s never too early to hammer out further stimulus.”