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Jose Canseco Goes On Twitter Rant, Compares Bank Of Japan To Willy Wonka

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Jose Canseco Goes On Twitter Rant, Compares Bank Of Japan To Willy Wonka
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The Bank of Japan may have found its harshest critic to date: former Major League Baseball all-star slugger Jose Canseco.

Canseco used his Twitter account to rant against the central bank.

Canseco may have been reacting to a report that the Bank of Japan's central governor said the central bank isn't engaging in a currency war by implementing negative interest rates.

"As with the Federal Reserve, the European Central Bank or any other major central bank, the BOJ doesn't target exchange rates in guiding monetary policy," Haruhiko Kuroda, Bank of Japan's government said during a parliamentary session. "By pushing down interest rates and the yield curve, we hope to push down real interest rates so that we can stimulate consumption and investment."

"Negative interest rates in Japan is blowing my mind," Canseco Tweeted. He followed up with, "Who is advising Japan? Forcing banks to lend all ¥ will not get 2% inflation. It creates loanees market with even lower rates. Dumb move."

Bloomberg answered Canseco's question as to who is advising the central bank.

Japan's central bank's negative interest rate can be lowered to as much as negative 1 percent, according to Masahiro Kawai, a professor at the University of Tokyo that has collaborated on research with Kuroda.

Kawai is one of 10 private sector advisers to the Bank of Japan.

"The BOJ made it clear that they have one more effective tool," Kawai also told Bloomberg. "This will gradually have positive impacts on consumer spending and business investment."

Canseco stated, "Bank of Japan should call them willie wonka bonds "YOU GET NOTHING. yOU LOSE!"

Posted-In: Bank of Japan Celebrity Tweets Haruhiko KurodaNews Bonds Forex Economics Markets Best of Benzinga

 

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