Posted by WARREN MOSLER on 23rd January 2013
Monetary doesn’t do the trick in any case. If this leads to a larger fiscal adjustment give him credit for the assist, intentional or not.
By Toru Fujioka & Isabel Reynolds
January 22 (Bloomberg) — The Bank of Japan (8301)’s decision to hold off on fresh monetary stimulus for a year puts pressure on the Abe administration to revive growth through fiscal measures and risks capping losses in the yen that aid export competitiveness.