Japan's gain could be your loss

After 15 years, Japan's economy is growing again, which means the Bank of Japan won't be flooding global markets with free money. Say hello to higher interest rates.

It's officially over. After 15 years -- yes, 15 years -- of no growth, Japan's economy is poised to grow by as much as 5% in 2006. After eight years of slowly but steadily falling prices, Japan can now smell a welcome whiff of inflation. And after years and years of 0% short-term interest rates, the Bank of Japan is widely expected to finish the year raising those same rates to 0.5%.