In its latest meeting in September, the Bank of Japan (BOJ) decided not to expand the expansionary nature of its monetary policy. Does this surprise you? I understand; we have become accustomed to central banks taking expansionary measures at almost every meeting. However, the BOJ had a good reason for the decision it made: it simply <{{{wpml_tag_1}}}> that the relationship between monetary expansion and the 2% inflation target was long-term.
