BoJ will hardly launch additional monetary stimulus until the USD/JPY goes down to 100
A few years ago, the authority of central banks could not be doubted. They efficiently managed the financial crises, investors could identify trends based on the divergence in monetary policies, each word of the central bankers was followed as a religion. In the late 2010, the trust in the power of regulators was broken. The central banks themselves claim that they can’t manage the consequences of trade wars and ask the governments to help by means of fiscal stimulus. The Fed can’t mitigate the strengthening of…
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