Unlike Bitcoin, The Bank Of Japan Changes Goalposts Again
The Bank of Japan announced earlier this week that it would abandon its target for expanding the money supply (set at 80 trillion yen annually) and focus on targeting a zero percent yield on the 10-year government bond. The move comes after years of targeted quantitative easing failed to have an impact on inflation and boost the economy. The Yen has appreciated since the announcement, indicating doubts about whether the Central Bank has enough tools in its arsenal to maintain near zero long-term interest rates. The change of the central bank’s goals can catch market participants on the....
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