More Greenspan, less Volcker, needed in Japan

This article published Wednesday 12 July by Bloomberg says that the Bank of Japan may engineer its first interest rate increase since August 2000 on Friday.

"Far from clouding the outlook, it would be a sign Japan has come full circle -- from the crises and deflation of the 1990s to the 3 percent growth of today," it says.

"The real reason the BOJ should raise rates at least a bit isn't because inflation is a risk; it's because Japan needs to kick its addiction to free money," it says.

"A BOJ mo