Aso praises BOJ's Kuroda, raises expectations of reappointment as governor


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Aso didn't lie. Kuroda is doing much better job than him.

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Well done old boy. You can remain part of the old boys club

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Amakuradi. Cough, cough.

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So Aso has let the cat out of the bag; it's about BOJ getting Dollar/Yen from 80 to 114 so that Japanese exporters can win again. It's about beggar thy neighbor policy via the exchange rate.

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The 2 percent inflation target is a ridiculous policy, but you gotta admit, the economy is now in a lot better shape since Kuroda took over.

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@blue sky. Japanese are one of the worlds biggest gamblers. 3.3 million addicted. What are the chances of either of these esteemed gentlemen looking after our economy or pension?

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"Coordination between fiscal and monetary policies has worked well."

The only coordination was when, purely coincidentally no doubt, the GPIF lowered its JGB holdings target on the same day as the BoJ announced another round of monetary easing by buying JGBs. Central planning galore.

Kuroda originally was under the impression that his easing measures were to aid fiscal policy reforms, but in the end Abe and Aso haven’t a bold reform bone in their bodies, and decided that a depreciated yen was good enough for them.

Abe also instructed Aso to put a decisive end to deflation, revive the economy and tackle fiscal consolidation

Aso is like 78 years old - who seriously thinks he’s a man about to shed his skin and announce serious reforms?

The changes Abe has instructed can only be achieved by reformers.

the economy is now in a lot better shape since Kuroda took over.

I will grant that it is in ‘better’ shape, but on a scale of 1 to 10 I give it a 3, and much of that is thanks to overseas markets dragging Japan along. It isn’t the leader.

Just devaluing the currency only does so much for your economy, and creates losers too. Consumers and importers.

Once the fiscal mess is addressed and everyone sees a brighter future, then we can say things are looking good.

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