A few weeks ago I wrote about what I saw as a quiet revolution in monetary policy. Unlike a lot of commentators, I always saw programs such as quantitative easing as natural extensions (or perhaps more accurately, aggressive versions) of well-established doctrine.
Now central banks may be ready to really try something new. And first up seems to be the Bank of Japan. Reports yesterday indicated that the Bank of Japan and the government would announce a formal 2% inflation target at its Jan. 22 meeting. The world, including the Fed, will be watching....642 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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