Monday, January 24, 2011

The Sarcasm Report v.82

The Bank of Japan has shocked the global contrarian community with yet another surprise interest rate move.

January 25, 2011

Japan central bank keeps rates steady

In a widely expected decision, the Bank of Japan's nine-member policy board voted unanimously at a two-day meeting to keep the overnight call rate target at 0 to 0.1 percent.


Anonymous said...

A "bold" move.

Stagflationary Mark said...


I know! And they keep us so in the dark on the outcome. 0 to 0.1 percent...

If they don't fine tune that rate well enough there could be huge implications.

September 6, 2007
Let Them Eat Cake!

In 2000, then-BOJ Governor Masaru Hayami was widely derided for raising rates from zero to 0.25 percent. Pundits called him Japan's answer to Herbert Hoover. Yet Hayami was trying to force Japan Inc. to implement structural reforms. It didn't work and rates returned to zero in March 2001.

Good frickin' grief.

Anonymous said...

Remember Hoover had the Federal Reserve to help him turn the economy around. Funny it didn't work :). Nor did the BOJ turn the Japanese economy around. Yet I suppose there still is hope for us, right?

Stagflationary Mark said...


Micromanaging the creation/destruction of paper money/credit is the ultimate prosperity enhancer.

The earth is flat, we've never been to the moon, and aliens from another planet live among us.

I figured I was on a roll so I'd just keep going. ;)