Japan central bank hopes a bold bond buy will solve an old problem
Newly appointed Bank of Japan (BOJ) Governor Haruhiko Kuroda speaks during his first regular press conference at the bank's headquarters in Tokyo on April 4, 2013.
Japan is fed up with years of deflation and a sluggish economy, and now its central bank is getting aggressive. Today, the Bank of Japan launched a sweeping bond-buying program to pump money into the economy. Traders liked what they saw, but do the Japanese people think it will work?
BBC Tokyo correspondent Rupert Wingfield-Hayes joined Marketplace's Mark Garrison to explain the plan and why the central bank is backing it.