With the latest moves overnight, the Bank of Japan, led by Governor Haruhiko Kuroda, has announced staunch new easing policies aimed at reflating the economy. The news was obviously expected by markets but nevertheless was a strong signal that the Bank of Japan is finally ready to do what it must to tackle deflation and spur growth in the Asian economy. A key indication that the BoJ is becoming effective would be to see inflation creep higher and industry services turn more positive.