That is what it is now doing: Japan's monetary base (currency in circulation and banks' reserves at the Bank of Japan) grew by 23% in the year to January.
Critics might fret that the recent slowdown in the growth in Japan's monetary base (banks' reserves at the central bank plus notes and coins in circulation) suggests that the Bank of Japan has tightened policy.
Even allowing for the time delays and the slower circulation of money in a more slowly moving economy, it seems as though monetary shenanigans which started in 2007 should have been felt by the summer of 2012.