The latest step in worldwide quantitative easing measures was undertaken by Japan, which broke away from years of financial discipline. Japan’s central bank – the Bank of Japan – announced an unprecedented stimulus package of $1.4 trillion over 10 years. Monetary easing is affects the perception of the world markets about the willingness of major economies to be part of a global recovery. “The Bank of Japan’s monetary easing should be viewed as a bold political statement, rather than a set of policies that still need to be tested before assessing how they will be implemented in practice and what they will mean.”