Capital-rich Japan has been relatively inactive in promoting capital market financial integration.
Eventually the BOJ will need to clarify its monetary policy stance.
Japan must do much more if Tokyo is to become a major global financial center.
It may be time for the BOJ to provide more reasonable projections about the time by which it can achieve 2 percent inflation.
It may be time for the government to realize that simple prescriptions that combine monetary and fiscal expansionary policies will not cure Japan's deep-rooted economic problems.
"Mission incomplete" aptly describes the lack of progress made by the Bank of Japan in reflating Japan's moribund economy.