Here again we see Japanese officials follow their ususal authoritarian line where the government and the ministries lead and decide.
They should realise that over 50 years of this policy has led them to more than 10 years of recession without the likelihood of coming out of it soon.
While these policies and attitudes continue, they never will.
Onésimo Alvarez-Moro
See article:
Kaoru Yosano, Japan's new economy and financial services minister, yesterday warned senior government ministers to stop hectoring the Bank of Japan over monetary policy because of the risk of damaging the central bank's credibility.
Mr Yosano, who is seen as a potential broker of a deal between the government and the BoJ, told the Financial Times: "It is not wise to speak loudly in public about BoJ policy."
His comments implied criticism of Hidenao Nakagawa, the ruling Liberal Democratic party's policy chief, and Heizo Takenaka, the influential interior minister.
Both Mr Nakagawa and Mr Takenaka have warned the central bank against tightening monetary policy too quickly. As consumer prices begin to stabilise after eight years of deflation, the BoJ has signalled that it might start mopping up liquidity as a first step towards normalising its ultra-loose policy.
Mr Nakagawa has explicitly threatened the central bank with loss of independence should it jeopardise what he said was the government's overriding goal of solid growth.
See full Article.
Posts
