Is today make or break for Japan's future?

The Bank of Japan has announced further asset-purchases as part of its latest bid to end 20 years of deflationary pressures - but how significant is its recent change in tack?

The central bank unveiled a more aggressive monetary policy stance in February, setting an inflation target of 1% and upping its asset purchase programme from 55 trillion to 65 trillion yen, and unveiled further measures today. The February move has helped the Nikkei rise 13% year-to-date, but the index has pulled back 5.2% in April. This month has also seen the yen shown signs of resuming its upwards trend: the currency hit a record dollar high last October before falling 12% by March to trade at 84.187 against the US dollar. "A weaker yen and higher inflation would clearly help Japa...