First quick glance:
The BoJ's rate policy during the 90's has been equally consistent to that rule as the the fed has been. More damning comments later.
According to the Taylor Rule - by which a central bank should alter rates systematically in response to deviations from target inflation and from full employment - the picture is even more striking. The Fed's policy is consistent with the rule, but the ECB has been pursuing policies that are more expansionary.

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