Oct 18, 2019 | Monetary Policy
The divergence in monetary policy across developed markets since the beginning of 2018 is starting to breakdown as Fed and ECB easing makes it increasingly difficult for the hawkish hold-outs to tighten. Above-target inflation in 2018/early 2019 provided cover for the...
Dec 12, 2014 | Featured, Japan
October saw the BoJ’s announcement of increased stimulus, coordinated with the new targets for the GPIF, 25% each for foreign and domestic equities (up from 12% each), and a decrease in JGBs, from 60% to 35% of holdings. Investors, both Japanese and foreign, have...
Nov 2, 2012 | Asia, Fiscal Policy, Global Economy, Japan, Monetary Policy
The Japanese economy continues to weaken and a recession is now the main consensus. The country’s trade balance, which was long in surplus, is now moving deeper and deeper into deficit and the third quarter numbers almost certainly will show contraction, and these are...
Jan 10, 2012 | Featured, Japan
The recent Q4-12 GDP print in Japan underscores the mounting pressure on BOJ and Ministry of Finance officials to act decisively on the ongoing strength of the Yen. Japan’s economy slumped to a 2.9% contraction on the year (nominal GDP, NSA) and a 0.77%...