BOJ boosts Aussie dollar but not as much as Bill Evans

Advertisement

The Bank of Japan disappointed global doves today looking moar easing, from the FT:

The yen surged 2 per cent and equities slumped after the Bank of Japan dashed market hopes of stimulus, despite data showing the country had fallen back into deflation for the first time since 2013.

Banishing deflation, which has dogged Japan’s economy for the best part of two decades, is a key plank of the Abenomics growth programme of Prime Minister Shinzo Abe. But the central bank’s pursuit of a weak yen has been stymied in recent months, prompting expectations of more monetary easing at Thursday’s meeting.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.