Time for change has come for BoJ

For the first time in 10 years we are starting to see something interesting happening in Japan. We have the most unpopular prime minister in post-war history, a fiscal deficit of 6% of GDP, a spending Government but a corporate Japan that has stopped borrowing to repair its balance sheets, and a stock market that has hit a 15-year low. With a sense of crisis, the time for change seems to have come and the Bank of Japan (BoJ) has returned to its zero interest rate policy, abandoned only seven months ago. No doubt it was forced, but Japan is really doing something different this time. Aft...