It hasn’t work so far, so why should it work now? Japanese opposition leader Shinzo Abe, in any case, intends on boosting the Japanese economy with unlimited monetary easing. Abe is pressing for more action to end deflation and boost an economy that is in its third recession in five years, including urging a 2 percent inflation target, up from the central bank’s existing 1 percent goal. JPMorgan Chase & Co. forecasts a 10 trillion yen ($119 billion) expansion of the Bank of Japan’s asset-purchase program at a meeting that ends on Dec. 20, four days after the election. It looks like Mr. Abe will get what he wants. We don’t expect this to help Japan find more solid footing any time soon.
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