Bank of Japan policymakers were cautious not to indicate the central bank's first interest rate hike in 17 years signaled the beginning of a monetary tightening cycle, while underscoring the need to guide policy as appropriate, minutes of the March meeting show.
Japan’s monetary policy shift, ending its experiment with negative interest rates, is unlikely to yield the expected results amid China’s economic stagnation.
With the world's largest debt to GDP ratio and no fiscal surplus in sight, Japan's habit of short-term spending may need to be replaced by deep structural change.