Yen will strengthen on this
As I said on my post this morning in preview:
If the proposal to extend the loans to 2 years is not accepted then expect more bond market volatility, Nikkei selling and yen buying to be the initial reaction.
Which is exactly what has happened. Big time.
More to come on this post
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- Retained plan for 60 to 70T yen annual rise in monetary base
- Doesn’t expand ETF, JREIT purchases
- Have said the economy is picking up
- Some indicators suggest rise in inflation expectations
- Upgraded their economic assessment
