Core CPI in Japan Worst since 1981. Food Inflation Worst since 1976. But Energy Prices Plunge by Wolf Richter • Jun 23, 2023 • 86 Comments BOJ’s Ueda promises to fuel inflation further, hopes for wage growth. Strategy: let raging inflation bring Japan’s debt-to-GDP ratio back in line.
Inflation Re-accelerates in Japan, Core CPI Spikes to 41-Year High, even as Energy Plunges. BOJ’s Ueda Vows to Let her Rip by Wolf Richter • May 19, 2023 • 95 Comments Bank of Japan clings to negative interest rate policy and yield curve control as inflation spreads across the economy.
As Inflation Spikes to 41-Year High, Bank of Japan Promises to Let her Rip by Wolf Richter • Feb 24, 2023 • 87 Comments A political decision to solve Japan’s horrid fiscal mess by fueling inflation, and forget that 2% target.
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.
