Sometimes I think it is the chicken or egg situation.
Rates are cut usually in deflationary/recessionary conditions to stoke some growth through cheaper spending. Rates are hiked if the economy starts to over heat, people starts betting on the stockmarkets or consumer spending goes out of hand. Different Central bankers look at different parts of that measurements as each economy have different growth triggers etc...
Japan is in a unique position where they spend decades in deflation, "money printing" was pioneered, rates cut to ZERO and yet the economy cannot pull itself out of the recessionary/deflationaty conditions. Those who subscribe to the Kyle Bass doomsday scenario will tell you that Japan should have imploded! They probably extrapolated that condition to US LOL
