This simply reflects the reality of monetary-policy interdependence: if the US Federal Reserve’s policy of so-called quantitative easing weakens the dollar, others have to respond to prevent undue appreciation of their currencies. Someday, we might achieve closer global monetary-policy coordination; for now, however, it made sense for Japan to respond, albeit belatedly, to developments elsewhere.
黑田东彦的立场让日元贬值，日本商品变得更具竞争力。这反映出货币政策独立的现实：如果美联储的所谓量化宽松政策让美元贬值，则其他央行就必须采取应对措施防止本币过度升值。总有一天，我们会达到更紧密的全球货币政策协调；但是，目前日本根据其他国家的发展形势作出的应对措施尽管姗姗来迟，却相当有效。