TOKYO—The Bank of Japan pushed back against speculation about an early interest rate increase Thursday by mixing an upbeat assessment of the economy with a further lowering of its inflation forecast and a rejection of the need to unwind its ultraeasy policy.0.2% is no inflation at all. That economy isn't going anywhere. Meanwhile, their citizens owe about $71,000 USD apiece on their federal government's debt. Ouch.
Mr. Kuroda reiterated that the time isn’t ripe to start talking about a policy reversal. He pointed to the distance of the current inflation rate, 0.2% in February, to his 2% target.
And, of course, there's the demographic issue with more adult diapers being sold than baby diapers.
Having issued my Cassandra Call one more time, I can't say that I've got any clue as to when or how this all comes crashing down. Weird.
|Bumblebees aren't supposed to fly, either, but they do.|