Bank of Japan Unexpectedly Eases Policy

The Bank of Japan (BOJ) has made a significant move by increasing its monetary stimulus, boosting global stocks. This action, advocated by economists like Nouriel Roubini, addresses economic risks and policy inertia in Europe and Japan. The BOJ's decision has sparked a debate on currency manipulation, with concerns about its impact on Japan's neighbors and potential currency wars. The stimulus is equivalent to $90 billion, similar to the US Fed's peak actions, and represents 16% of Japan's GDP, highlighting the scale of the intervention.

What does the term 'currency manipulation' refer to in the context of central banks?

How does the scale of Japan's monetary stimulus compare to that of the U.S. during its peak?