Monetary Policy

China announces coordinated package of policy measures to boost economy, property sector and stock market

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On the morning of September 24, 2024, the Chinese government unveiled a series of economic measures aimed at boosting growth in sectors like the property market and stock market. The announcement was made at a State Council press conference attended by three key government officials: The coordinated package of policiy measures focus on monetary easing, property market … Read more

Bank of Japan’s yield curve control policy drives the depreciation of the yen

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Bank of Japan's yield curve control policy drives the depreciation of the yen

The Bank of Japan’s yield curve control policy has had a devastating effect on the value of the Japanese yen, driving the currency to a 20-year low against the US dollar.

In its ongoing battle against free-market forces, the Bank of Japan has vowed to keep the money printing press running in order to support Japanese Government Bond (JGB) prices and maintain the 10-year JGB yield at a level not exceeding 0.25%. The relentless buying of JGB with freshly minted yen is one of the main causes of the precipitous fall of the currency.

The Japanese Yen has fallen by more than 15% against a basket of major currencies as shown in this JXY chart.
The Japanese Yen has fallen by more than 15% against a basket of major currencies as shown in this JXY chart.

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