SCJ - BoJ Hikes By 25 Bps And Starts QT: Too Little Too Late But In Right Direction To Prop Up The Plunging Yen
2024-07-31 14:25:00 ET
Summary
- The “real” policy rate is massively negative, with the new policy rate of 0.25% far below Core CPI of 2.6%.
- When QT reaches about ¥3 trillion per month in 2026, it would represent a reduction of its JGB holdings of about 0.5% per month.
- When QT entered full speed in September 2022, the Fed rolled off about 1.1% of its Treasury holdings per month.
The “real” policy rate is massively negative, with the new policy rate of 0.25% far below Core CPI of 2.6%. ...
BoJ Hikes By 25 Bps And Starts QT: Too Little Too Late, But In Right Direction To Prop Up The Plunging Yen