I'm sure Bank of Japan Governor Kuroda is very welcoming of all the advice he is being given
(Does sarcasm come across well in writing, maybe not)
Yesterday we had Goldman Sachs with:
- "the BOJ needs to "shock markets again and again, until they have no reason to question a central bank's commitment""
Now it's the Peterson Institute:
- Strong, decisive policy action is needed-and soon
- The most effective option is to ramp up purchases of other assets
(i.e. not more JGBs)
- Currently, the BOJ is buying about 0.5 percent of outstanding equities per year. Raising the rate of purchase to 10 percent would herald a major break with the past, pushing up equity prices and encouraging consumption and investment through higher household wealth and lower cost of capital
Yowza.
Let me just get a flak jacket & helmet. Once I have those on, comments welcome.
