Japan Needs to Keep the Presses Running in 2014
What a year for Japan: Its currency lost 18 percent of its value against the U.S. dollar, the Nikkei index rose 57 percent, and inflation returned for the first time in five year
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What a year for Japan: Its currency lost 18 percent of its value against the U.S. dollar, the Nikkei index rose 57 percent, and inflation returned for the first time in five years.
If Japan wants 2014 to go as well as 2013, it needs to do just one thing: Keep the presses going. That's because Japan is easing monetary policy to break deflation and reboot real economic growth. It's won neither battle yet, even if it's made great progress. Markets think that more easing would still do more good.