BOJ's 'bazooka' chief Kuroda stepping down after record tenure

his policies worked so great! Look where we are now... lol

Did those people kampai for celebrating yen that getting weaker?

https://asia.nikkei.com/Business/Markets/Yen-weakens-to-32-year-low-declining-past-147-per-dollar

Or celebrating daily items which getting higher in Japan.

https://asia.nikkei.com/Economy/Inflation/Japan-consumer-inflation-accelerates-to-41-year-high-of-4

His "bazooka" was firing duds.

I have read this article and compared it with reality and wonder why this fool was never fired?

Since he took charge, the central bank's assets have quadrupled, surpassing GDP in a first for a Group of Seven nation.

Ghouls celebrating declining living standards amongst the masses while billionaire assets inflate.

https://www.internationalaffairshouse.org/quantitative-easing-in-a-covid-19-economy-how-the-rich-got-richer/

The guy is leaving a huge mess behind him.

He made it possible for the government to spend like a drunken sailor for useless stuff. He also destroyed the currency and the life of many people thanks to the surging inflation partly due tho the collapsing yen.. Expect higher taxes in the future as the huge deficit can not goes forever contrary to what some believe here.

Kuroda's legacy in one word: failure

Japanese inflation has hit a multi-decade high of four percent,

More like ten percent, but of course, in Japan the core consumer price index (CPI) excludes fresh food.

I have read this article and compared it with reality and wonder why this fool was never fired?

Simple answer to this question. He was never caught in any scandals. He is Japanese, and unless they get caught with their hand in the proverbial cookie jar, never put their hands (literally) on some one where they shouldn't be, or get a case of foot-in-mouth disease, the dude was set for life.

"Japanese inflation has hit a multi-decade high of four percent"

This is a blatant lie. Ask anyone living in this country who frequents shops, supermarkets, restaurants, uses energy.

So infuriating that journos don't point out how Japan reports inflation.

I personally love the weak yen. I get way more for my money when I bring my dollars back to Japan. It's not as if, a strong yen is better or a weak yen is better, it depends on what your economic focus is on. Toyota, Honda, Nissan, Yamaha, cannon, Sony, Panasonic, et al want a weak yen, so when they bring the cash back they get more yen for their buck, which could translate into bigger bonuses. I think it also help tourist get more for their dollars when they come to Japan. 1 dollar could get 150 yen a while back but now their only getting 130 yen for the dollar so Japan is more expensive for the tourist.

Personally I'd rather have no inflation compared to say inflation in the UK which is ballistic. and the only reason they want inflation is so that the national debt value is whittled away over 10, 20, 30,or 40 years.

One thing for sure is, the PLAZA accord singed in 1985, certainly did not help Japan and probably hastened the Japanese recession, leading to the bubble bursting and then deflation. I think it can be helpful to understand the plaza accord first.

https://en.wikipedia.org/wiki/Plaza_Accord

Feudal Era Feudal money policy

I have read this article and compared it with reality and wonder why this fool was never fired?

It’s that part about how the BOJ bought up all the government’s debt. How could the politicians fire the person who delayed government bankruptcy?

The whole seeking “price stability” (which Japan used to have) is just a pretext.

Yrral

Feudal Era Feudal money policy

please elucidate, examples and comparisons would help rather than this empty and meaningless comment. I am sure you have an enlightening thesis to expound?

Expect higher taxes in the future as the huge deficit can not goes forever contrary to what some believe here.

I do not think higher tax rates in Japan will produce higher tax revenues.

Pick a tax rate; would hiking the rate damage the economy? Yes. So overall tax revenues would likely decline due to economic damage.

I expect the debt to be dealt with via high inflation. We’ve only just started to see this opening chapter unfold.

When things get really bad, that’s when finally some new politicians will be elected and they will slash spending down to size, but the accumulated debt will inevitably be “paid” through depreciated yen.

The average people continue to suffer with stagnant wages against skyrocketing food costs and other essential costs! The past few years has been terrible for majority of people all the while the BOJ head thought he’s done marvelously for Japan! If people abroad ( in developed countries ) hear how low wages are in Japan compared to other developed countries and how high the cost of living has become, they’ll say wtf!

Epic fail. And no doubt another 10 years of wishful thinking with his successor.

Print to infinity, and beyond!!!

"After a record tenure"... of devaluing our savings and salaries...

Bozo has destroyed the yen. MMT at its best (which is worst for citizens).

Three despicable people in that photo. I can think one positive word to describe any of those people's careers!

You live Japanese monetary policies while living paycheck to paycheck

Let them eat rice cake

I recommend watching the documentary 'Princes of the Yen' available on YT. This doco examines the actions of the BOJ that led to the financial crisis in Japan during the 90s.

Fired? At least one in the main photo should be in jail!!

I have read this article and compared it with reality and wonder why this fool was never fired?

the guy is leaving a huge mess behind him.

Nope. Japan's economy has fared relatively well during the pandemic. Consumer inflation is much higher in most other countries and real interest rates here are around the same as in the US.

Kuroda ended the deflationary spiral after taking up his BOJ position and helped prevent Japan from falling into recession during the pandemic. Japanese corporate profits continue to hit all-time record highs and the economy is now starting to gradually recover.

If you think things are a mess, you have a very short memory. The late 90s and the noughties were a real mess. Negative growth and constant wage cuts.

Today's problem is low wages. But that's not Kuroda's fault. It's the private sector's fault. Most employers refuse to pay wage increases anywhere in line with their extraordinary profit growth or improve working conditions, despite the accommodative polices of the BOJ and the government. Blame corporate greed.

despite the accommodative polices of the BOJ and the government.

In what way is Japanese government policy accommodative?

They never did any free market reforms; the place is heavy regulated and government has fingers in many pies.

Blame corporate greed

Everyone is greedy and acting in their own self interest, and corporations are just groups of people.

The government is the problem.

Country's public debt to its economic output...257% in 2021 or probably more today.

The annual inflation rate in Japan rose to 4.0 % in December 2022, the highest since January 1991 amid a rise in prices of imported raw commodities and yen weakness.

Economy: Economists say the fall can be attributed to the Bank of Japan's decision to keep interest rates low. The difference in rates that has opened as the United States has repeatedly raised its own, experts say, has driven a sell-off of the yen as investors pile into the dollar in search of higher returns.

Just saying.

Economists say the fall can be attributed to the Bank of Japan's decision to keep interest rates low. 

Or it can be attributed to the US Federal Reserve's decision to hike interest rates higher.

Is the glass half full or half empty?