It also hopes to stimulate a slumping real-estate market. Businesses hope it will cut interest rates back to zero, a level it left last August. But Japan's cost of borrowing is already the lowest in the world. They hope the bank will buy more government bonds, as well as set inflation targets, to jump start Japan with cash. But those are short-term goals.
Economists say a turnaround needs to go beyond banking and stock-market revitalization.
Bevacqua noted that shareholders have no power over management at the companies they own. A homeless man feeds pigeons in Tokyo. Unemployment is at 4.9 percent, a record. There are too many fuel factories, car companies, too many people in the wrong services, transport, retail, wholesale. Managers have no real incentive to operate efficiently.