Although it still remains anybody's guess whether the timing of the latest shift in monetary policy was correct, the effect could be that market participants now see the Bank of Japan's policy options in a more positive light.
The BOJ defied political and industry pressure in ending its 18-month-old "zero-interest-rate" policy, marking a major departure from years of foot-dragging.
The U.S. markets' high appraisal of the Federal Reserve is based on the central bank's achievements in the past years.