"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.
