"Thanks for posting the article. Interesting since Japan has has a massive QE program for decades. Do you have a view as to why Japan has ended it's money printing program?"
Hi Cranny,
That is an interesting question, which I have the feeling that Dub is not going to answer. So let's try to see if we can get some sort of explanation although I must confess right now that I have no firm answer, just a suggestion, as I am not acquainted in any way with the issue.
But before going there, let's list what factual information we have.
1) In January last 1 dollar was buying 103.0000 Japanese Yen and now 110.0000, representing a 9.7% devaluation of the Yen.
2) QE has been justified as a tool to fight deflation and not as a a prime example of beggar-thy-neighbor policy.
2) The global economy is entering the post covid19 period while facing the prospect of bottle-neck inflation.
From all these things it must follow, I believe, the need for central banks to act to end QE in a coordinated way with the Bank of Japan being just the first one to move.
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- Bank of Japan Ends its Massive QE that Started when Abenomics Became Economic Religion of Japan
Bank of Japan Ends its Massive QE that Started when Abenomics Became Economic Religion of Japan, page-3
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