It is so long since the BoJ has intervened that there is no one there who with any experience of wading in and dampening volatility (or whatever it is that it is supposed to do).
How do you go about practising intervention? My chum LO reckons it’s done by opening up a demo account with a retail aggregator; now that would be a novel means of intervention wouldn’t it?
Meanwhile in the Emerald Isle, following on from the news that the Irish government has decided Anglo Irish Bank will be split into a funding bank and an asset recovery bank or, more colloquially, a ‘good’ bank and a ‘bad’ bank, the latest word is that the good bit will be named Anglo and the bad bit Irish.
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