BOJ easing in response to QE3: Currency wars are the best wars.

New Monetary Easing From Japan

A blog about business and economics.
Sept. 19 2012 12:13 PM

More Good Monetary News: Bank of Japan Easing In Response To QE3

In a depressed global economy, the best possible kind of war is "currency wars"—joint monetary stimulus from the major nations. And it looks like we're getting some. In the wake of QE3 the Bank of Japan is suddenly worried about the high value of the yen and is kicking in some stimulus of its own.

For whatever reason, elites in almost all countries seem more comfortable talking about exchange rate issues than coordination of expectations so perhaps the best we can realistically hope for is that now the ECB will worry that the Euro is overvalued and kick in with some of its own expansionary policy.

Matthew Yglesias is the executive editor of Vox and author of The Rent Is Too Damn High.

  Slate Plus
Slate Plus
Aug. 28 2015 12:31 PM What Happened at Slate This Week? International affairs writer Joshua Keating on what to read to understand the apparently permanent slowdown of the Chinese economy.
  Health & Science
Medical Examiner
Sept. 1 2015 12:20 PM Does Contraception Reduce Abortions? The relationship is surprisingly ambiguous—until you look at the best evidence.