The Bank of Japan will make its best effort on various fronts, such as enhancing the transmission mechanism of monetary easing, promoting the permeation of the easing effects through the economy, as well as ensuring financial market stability.
If only the above East Asian countries like Indonesia, Malaysia, Thailand and the Philippines had contended with this, they would have preferred the continuous sensitivity of flexible exchange rate regime. After all, the chief merit of flexible exchange rate regime is that it admits of monetary policy autonomy/discretion/independence/ sovereignty and insulates the domestic economy against the shocks of external/foreign disturbances.