The Bank of Japan is expected to lift its benchmark rate to the highest level in 31 years, extending a gradual exit from decades of ultra-loose monetary policy as inflation and wage growth hold firm.
The Bank of Japan is expected to lift its benchmark rate to the highest level in 31 years, extending a gradual exit from decades of ultra-loose monetary policy as inflation and wage growth hold firm.
Oh good. A 31-year high. Japan carries debt near 250% of GDP — the fattest in the developed world — and a chunk of it reprices every few years. Each basis point of this “gradual exit” is a bill landing on a shrinking, ageing tax base. Tokyo calls it normalisation. The arithmetic calls it a countdown.