Japan's Risky Stimulus Decision
The Bank of Japan's next policy-making meeting, scheduled for July 28 and 29, has become interesting. It is ever clearer, from the noises emanating from the global chattering classes, that a convergence of unconventional monetary policy and fiscal policy is coming sooner or later -- in the form, most likely, of a monetization of infrastructure stimulus. Could this be about to happen in Japan?
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