While the Bank of Japan announced no new changes to prevailing interest rates at 0.10% where they have sat for years, the Central bank opted to increase purchases of exchange trade funds (ETFs) starting in April of 2016. Helping the BoJ avoid more extreme monetary policy measures is the recent decision from the Federal Reserve to begin the liftoff process for US interest rates. This will add tailwinds to the US dollar that should keep the Japanese Yen weaker in the meantime, helping to boost exports. However, as evidenced by the latest policy statement from the Central Bank, Japanese inflation is likely to trend near 0.00% for the year amid the downturn in trade and weakness in energy prices. The main risks are emanating from emerging markets and commodity-driven economies. However, the existing quantitative and qualitative easing program should be enough to insulate the economy from external developments as they arise.