Japanese new fiscal stimulus will press USD/JPY down over the long-term horizon
Nothing ventured, nothing gained. Japan was one of the first who started a negative interest rate policy, yield curve targeting, and, finally, it demonstrated the rest of the world that a large fiscal stimulus could help the central bank. Japan’s Prime Minister Shinzo Abe announced stimulus measures to support growth in an economy. The total stimulus package amounts to around $239 billion, with fiscal measures around $120 billion, the rest is additional budgets. According to the official Tokyo projections, it should boost growth in the economy by about…
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