THE unthinkable has happened. The continued turbulence in global stock markets and the sharp rise in the Japanese yen all cry out for some swift counter-measures from Japan's central bank. In these uncertain times, the Bank of Japan (BoJ) has a crucial role to play.

Today is World Water Day. This year, issues of sanitation will be highlighted to mark International Year of Sanitation 2008. More waste water is generated and dispersed today than at any other time in history. An estimated 1.1 billion people lack access to safe drinking water, and 2.6 billion lack adequate sanitation. About 3,900 children die of water-borne diseases every day.