The apparent intent for a managed decline of the Yen may morph into a steep decline. 1.29 would not be enough to reverse this and so a coordinated attempt* with other central banks may be in the pipeline at some point.

I’d be grateful if you’d elaborate on the capital hub point. I suppose raising capital isn’t the challenge, but allowing the proper (i.e. capitalist) allocation to take place is.

*Central banking at the national level is bad. Cross-border central bank coordination is worse; the temporary show of market power eventually leads to greater market distortions.