Posted by WARREN MOSLER on January 22nd, 2013
This of course fundamentally does nothing of consequence for aggregate demand or the level of the currency. The extra deficit spending due to start in April is what will help a bit.
By Toru Fujioka and Masahiro Hidaka
January 22 (Bloomberg) — The Bank of Japan set a 2 percent inflation target and shifted to Federal Reserve-style open-ended asset purchases in its strongest commitment yet to ending two decades of deflation.