The net impact on the economy would be basically the same whether the government or the Bank bought foreign bonds, and therefore I think that the Bank itself need not assume the dominant role in conducting such purchases. However, it might pose a problem in terms of currency diplomacy; therefore, close coordination with foreign currency authorities is indispensable in order to achieve consensus. J.
Economic welfare would not improve if a price hike is simply driven by the yen’s depreciation  Even if the yen depreciates against the U.S. dollar by 10 percent, I estimate that the rise in Japan’s CPI would be far short of 1 percent, even if the accumulation of its effect for several years is taken into account.