~0% interest rate doesn't imply monetary stimulus. At least not when the rate gets hiked as soon as inflation goes over 0% or so, which is what the Bank of Japan has been doing.
In other words, BoJ has _explicitly_ targeted stable to falling prices in its monetary policy. That's not monetary stimulus; that's just contractionary policy. What interest rate target they use to implement that policy isn't really relevant.
In other words, BoJ has _explicitly_ targeted stable to falling prices in its monetary policy. That's not monetary stimulus; that's just contractionary policy. What interest rate target they use to implement that policy isn't really relevant.