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‘Pandora’s Box Is Open’: Will The BoJ Shock Markets Again?
There was a time not so long ago -- and by that I mean prior to December 20 -- when Haruhiko Kuroda was prone to suggesting that any tweaks to the Bank of Japan's easing regime would be akin to hiking rates.
The implication was that even if Japan's policy settings were increasingly anachronistic given inflation realities and nascent evidence that wage pressures were building across the world's third-largest economy, policy would remain unchanged for the remainder of Kuroda's term, which ends in
Often the end of qe has counterintuitive effects after the very short term
BOJ adjustments higher leads to more funds coming home and higher treasury rates?
Bloomberg has a piece this morning on the BoJ with “Pandora’s Box” in the headline. Pure accident, no doubt.