The changing future of central banking

Joe Weisenthal over at Business Insider highlighted this release from the Bank of Japan that was released while most us here on East Coast were getting ready for Hurricane Sandy.

BOJ overcoming deflation

So does serve as new blueprint for central banking, a more "close" relationship with the government authority. In my mind, this makes it far more likely that monetary policy becomes fiscal policy while increases the chances of higher inflation at some point down the line.