Yes, The Bank of Japan’s Haruhiko Kuroda (the current governor) has greatly expanded the BOJ’s balance sheet of assets.
Starting in 2012, Japan’s house price index has soared along with BOJ’s total assets p;urchases.
In a similar fashion, the US Federal Reserve embarked on a historic market intervention starting in late 2012 affectionately known as QE3 (the third and largest round of asset purchases). Like Japan, US house prices have
risen with the Fed’s asset purchases.
Now, if only Kuroda can solve Japan’s declining and aging population problems using monetary policy.
He can’t, of course.
Views: