Japan ruling party calls on BoJ to take more easing steps

• Increase JGB buying and expand fixed-rate money market operation
• Imperative for BOJ to pursue large-scale monetary easing
• Government should introduce inflation targeting policy and revise the BOJ law

This is all building towards the “Sayonara Deflation” bill that we’ve been talking about but the danger is that the independence of the BOJ gets diluted even further.