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4min chapter
Governor Kuroda: The Decade’s Most Consequential Central Banker
Forward Guidance
QQE - What's the Biggest Story Today?
In October of 2014 markets are completely caught off guard dollar yen breaks out of its like three yen you know trading range around that 100 level. Nikki rallies like another 30% from there JGB will drop and seeming to be back on track baby okay then in January 2016 BOD shocks again by cutting rates negative despite Crota explicitly insisting that negative rates will not be implemented in Japan. Once it's out there an official policy language you can't take that back right so from January 2016 to Brexit day in June those 2016 dollar yen falls from above 120 and then it actually cracks it below parity and actually prints 99 onBrexit day stocks go on a one-way decline led by bank stocks and financials
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