Inflation Spikes to 41-Year High in Japan. BOJ’s Stubborn & Reckless Kuroda Lets it Rip by Wolf Richter • Jan 20, 2023 • 65 Comments But the architect of Abenomics will be outa there in April.
Status of US Dollar as Global Reserve Currency: USD Exchange Rates Hit Foreign Exchange Reserves by Wolf Richter • Jan 1, 2023 • 157 Comments Complicated times for the dollar. The Chinese Renminbi, a distant also-ran, loses ground.
Bank of Japan, Last Holdout of “Free Money,” Begins to Tighten: Raises Cap of 10-Year Yield Peg, Paves Way for NIRP Exit by Wolf Richter • Dec 20, 2022 • 65 Comments Yen and 10-year yield spiked. BOJ cited bond market dysfunction, didn’t mention elephants in room: raging inflation & yen’s plunge.
Inflation Makes Mess in Japan, Batters Yen. BOJ’s Kuroda Clings by His Last Fingernail to “Transitory” by Wolf Richter • Nov 18, 2022 • 78 Comments But he’ll be out in April.
Shock & Awe Balance Sheet Reduction at the Bank of Japan: Assets Drop 7.3% from Peak by Wolf Richter • Oct 7, 2022 • 84 Comments Inflation spiking, yen getting beaten half to death, yield peg under attack, and Kuroda’s term won’t expire till April. Here’s what the BOJ did.
Even in Japan, Inflation Begins to Rage after 23 Years of True Price Stability by Wolf Richter • Sep 20, 2022 • 54 Comments Bank of Japan lets yen go to heck, trade deficit blows out, costs surge for manufacturers, prices surge for consumers.
To Halt Yen’s Plunge, Japan Gets Ready to Sell Foreign Exchange Reserves Instead of Hiking Interest Rates. Won’t Work for Long. Markets Can Win this Battle by Wolf Richter • Sep 14, 2022 • 102 Comments Rate hikes to keep up with the Fed would work. But the Bank of Japan still digs in its heels. Its balance sheet has shrunk for months though.
SoftBank Lost $39 Billion in 6 Months, Wiping Out the Bubble Gains of the Vision Funds Since 2017: Easy Come, Easy Go by Wolf Richter • Aug 8, 2022 • 98 Comments Now trying to avoid “a blow that would be irreversible.”
Bank of Japan’s Assets Drop for 2nd Month in a Row by Wolf Richter • Jul 6, 2022 • 81 Comments Possibly confusing to folks in the US financial media that in recent months had hyped some new QE by the BOJ.
Inflation Comes to Japan, amid Plunging Yen, Inflation Subsidies. Bank of Japan Blows it Off as “Transitory,” Throws Yen under Bus by Wolf Richter • May 20, 2022 • 141 Comments The Japanese people are not amused.
