Thursday, January 18, 2007

BoJ Policy Freeze; Abe Says: What? Don't Look At Me!

So the BoJ hemmed and hawed yet again before finally deciding to do nothing, yet again. PM Abe guiltily was on the horn immediately following the decision and said:
"I didn't interfere....I had nothign to do with it....it was completely independent ....really! .....really! ..... really! .... awww come on guys don't you believe me?....what do you think there is some conspiracy to keep the YEN weak for the sake of TeamJapan, what are you insane? You journalists probably think the the CIA killed Kennedy too, huh?...."
before being yanked off stage by his personal secretary. In hilariously scripted fashion, three members of the policy-making comittee dissented on the decision to DO NOTHING, ostensibly because leaving rates at nearZIRP yet again is careless, reckless, anti-social, not to mention fricking insane.

Understandably, the YEN weaken to historical lows vs. the Euro, and multi-year lows against the USD dollar.

(Errrrr, did the CIA have anything to do with the JFK's assasination?!?!)

2 comments:

debt is wealth said...

Three cheers for the carry trade!

It's good to know that Japan is still comfortable with their role as the financial world's bitch.

Cassandra said...

There is a paradoxical lack of shame in their behaviour juxtaposed as it is in the land where women need ambient sound cover to overcome the embarrassment associated with errr ummm nature. But then, I suppose, when push comes to shove, it IS the land of the "blow job bar" and the "used panty vending machine".