06-E-10, 2006; and Jouchi Nakajima, Shigenori Shiratsuka, and Yuki Teranishi, “The Effects of Monetary Policy Commitment: Evidence from Time-varying Parameter VAR Analysis,” IMES Discussion Paper Series, No. 2010-E-6, Bank of Japan, 2010. BIS central bankers’ speeches  5  QQE, then provide my personal views on the rationale for its structure, followed by a comparison with past measures and other countries’ experiences.
The very first cough maybe? When Barings Bank, with a Royal seal of approval, was hit by their own young man in Hong Kong, who sold them down the futures and derivatives drain, while senior managers were sipping cocktails … perhaps the pink champagne with which this Governor is allegedly permanently sozzled.