Jens Nordvig: Days of Japan’s Zero Interest Rate Policy (ZIRP) Are Numbered
Forward Guidance
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Navigating Interest Rates, Inflation, and Currency Strength in Japan
The chapter explores the interplay of interest rates, inflation, and currency strength in Japan, discussing potential scenarios and challenges faced by the Japanese central bank. It delves into the impact of rate differentials, inflation expectations, and the dynamics of yen interventions on Japan's economy. Additionally, the chapter analyzes the implications of rising Japanese bond yields on global fixed income markets and the potential transition of the Bank of Japan towards a more normal monetary policy cycle.
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