This comment is just plain ol' common sense....
If Japan has taught us anything, it’s that slashing rates to zero and beyond is a lot easier than returning them to normalcy. Japan is on its sixth central-bank governor since its bubble burst in 1990, and like his predecessors, Haruhiko Kuroda is doubling down on quantitative easing. Why? Politicians, bankers, investors and businesspeople alike get addicted to free money all too easily and clamor for more.Taking the easy road is always the government's prefered path. Need more taxes? Don't tax the people just tax a small sliver of people. Need to employ people? Don't do it through organic growth but through employing folks in pie-in-the-sky green jobs or even easier just write them monthly checks.
But getting back to monetary policy, the supposed path of least pain has been the Central Bank's 5 years of easy money. However, it has not worked and it will end up burying the nation like any other of the governments idiotic central planning market interventions. Best of luck. It won't be pretty.
Japans’s Scary Lesson on Slashing Interest Rates - Bloomberg