THE Bank of Japan (BOJ) yesterday signalled its resolve to take a tougher line in fighting deflation by changing its definition of what constitutes an acceptable level of price changes in the Japanese economy.

And while the head scratching has begun, PMBA is pretty sure that when we hear talk of monetizing the debt of the United States, we're talking about definition number two — because debt monetization involves the government selling debt to the ... The irony is that we have been fighting deflation risk this entire year. See Volume 7, No. 1. And as monetization is inflationary, it is certainly a tool to fight deflation, as well. This is one reason some say that the Fed is ...