Bank of Japan Maintains Interest Rate Post-Hike
562 sats \ 15 comments \ @TomK 26 Apr econ
The Bank of Japan (BoJ) has upheld its interest rate target, sustaining the status quo one month after its initial hike in 17 years. The interest rate remains fixed within the range of 0 to 0.1 percent, reaffirming the bank's commitment to financial stability.
In its quarterly outlook, the BoJ further asserted the likelihood of inflation hovering around the bank's 2 percent target over the next three years.
PS: the Yen is toast! (Euro is next, prepare !)
write
preview
related posts
52 sats \ 2 replies \ @rtr 26 Apr
Isn't Japan the largest foreign holder of US debt? I'm not informed on this at all but surely that doesn't bode well for both countries.
reply
10 sats \ 0 replies \ @TomK OP 26 Apr
Besides the ECB, yes
reply
0 sats \ 0 replies \ @john_doe 26 Apr
I think China is first and then it is Japan. Indeed 20 years ago I think it was Japan first.
reply
42 sats \ 0 replies \ @gmd 26 Apr
158!!! crazy to lose 10% of your purchasing power in one month 😢
reply
42 sats \ 0 replies \ @john_doe 26 Apr
It reminds me Dogecoin... Thanks to the exchange rate I think I got around $500 more of free money this month based on the old rate of change of 2019. Since Japan exports cars and other electronics I would guess that some other people are very happy, Ike in Germany in the 1920s.
reply
42 sats \ 1 reply \ @quark 26 Apr
And in the conference, he said there is a chance of prolonged weakness in the yen. It is out of control. They are trapped. That's what happens with too much debt.
reply
0 sats \ 0 replies \ @TomK OP 26 Apr
I am waiting for Chrissy to join the panic room
reply
42 sats \ 7 replies \ @Satosora 26 Apr
You think it is toast? If the US saw those numbers, they would swing shit like crazy. These numbers dont seem to crazy....yet.
reply
0 sats \ 6 replies \ @TomK OP 26 Apr
Wait for the next leg down...
reply
42 sats \ 5 replies \ @Satosora 26 Apr
I believe the japanese people wont allow it to inflate like the usa. They have more discipline.
reply
42 sats \ 0 replies \ @john_doe 26 Apr
Until the corona virus happened I also thought so too, but since then everyone enjoyed free money from the state. I put the government money to the trash but I don't know anyone who did the same. There is a lot of undisciplined free money I noticed since then: free money to buy sanitary pads for girls at school, free money to put another layer of concrete in a park, free money for solar panels, free money for electric cars, free money for izakayas, free money for holidays, free money for more holidays (just in case after the pfizer shot), free money for companies who applied, free money for the digitalization of society, free money for Ukraine, free money again to Ukraine, free money for the Go To Travel campaign... Since 2019 I have an infinite list of examples of what we could call lack of financial discipline.
And now the government tries to show how the new NISA will make you richer, I have heard examples of people getting good returns on government bonds. My personal feeling is this is all gaslighting.
reply
0 sats \ 3 replies \ @TomK OP 26 Apr
They also have no representation. It's happening
reply
42 sats \ 2 replies \ @Satosora 26 Apr
Actually, they have a lot of say, because they hold the majority of the money. The japanese people know how to save, all the people that are old are still saving money. The government wont inflate their savings, because they arent out to get small gains. Just watch and learn.
reply
0 sats \ 1 reply \ @TomK OP 26 Apr
They hold the debt that they guarantee as tax payers for. That's the trap
reply
0 sats \ 0 replies \ @Satosora 26 Apr
Just watch what happens in a years time. Resilience.
reply