One of the world’s largest economies has finally joined the rest of the world’s central banks in taking steps to tackle inflation.
Already a subscriber?The Bank of Japan has cast off its long-standing negative interest rate regime and tightened monetary policy for the first time in over a decade in a momentous shift for one of the world’s largest economies.
The Japanese central bank also wound back its yield curve controls and scrapped ETF buying activity, a policy brought in by Mr Ueda’s predecessor to shore up equity markets, which have languished for more than two decadesLuke McMillan, head of investment research at Ophir Asset Management, said it was an historic move from the central bank after years of battling economic stagnation.
Mr Hext said the cautious approach was needed, given what the policy shakeup could mean for the economy and the those living under a new interest rate regime.
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