Weird Adventures in Japanese Central Banking

A discount store in the area of Shibuya in Tokyo, Japan, on March 1, 2013 Photograph by Noriko Hayashi/Bloomberg

Hey, these guys in Tokyo are serious. After two decades of studied inaction, the Bank of Japan’s new governor, Haruhiko Kuroda, has just announced shock and awe monetary targets for Japan. You might call it quantitative easing on steroids—or at least fueled by some very fine Niigata sake.

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