The Bank of Japan seems well on its way to delivering on the first one – embracing what it calls quantitative and qualitative easing (QQE). Relative to GDP, the BOJ’s monetary-policy gambit could actually far outstrip the efforts of America’s Federal Reserve.
不幸的是，并非三支箭都能飞起来。日本银行的第一支箭射得还不错&mdash;&mdash;采取了它所谓的量化和定性宽松（QQE）。相对于GDP而言，日本银行的货币政策头炮可以说打得比美联储还要响。