Le illusioni di politica monetaria di Shinzo Abe

NEW HAVEN – La politicizzazione delle banche centrali procede inesorabile. Il ritorno di Shinzo Abe e del Partito democratico liberale in Giappone – pilastri di quel sistema politico che ha lasciato l’economia giapponese impantanata in due decenni perduti – è solo l’ultimo caso in questione.

Le recenti elezioni in Giappone si sono basate fondamentalmente su ciò che Abe auspicava per la politica monetaria della Banca del Giappone (Boj). Il ministro sosteneva che una timida Boj dovrebbe imparare dai suoi omologhi più aggressivi, quali la Federal Reserve americana e la Banca centrale europea. Proprio come la Fed e la Bce hanno apparentemente salvato il salvabile con la non convenzionale e aggressiva manovra di quantitative easing (Qe), va da sé che ora Abe crede sia il turno della Boj.

E sembra proprio che perseguirà questo obiettivo. Con il mandato del governatore della Boj Masaaki Shirakawa in scadenza ad aprile potrà selezionare un successore – e due vice governatori – in grado di portare a termine la sua missione.

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