Zervos On BoJ Decision: Losing Independence

``The executive branch politicians in Japan have, for the first time ever, infiltrated the mother ship. BoJ independence is now under explicit political attack. This should be a warning to all central bankers with "sound money" religion - if you don't let the inflation dogs out and crank up the printing presses as the economy deteriorates, the politicians will come and shut you down. What we are witnessing is the beginning of the end for independent Japanese monetary policy.''