Policy Quagmire threatens to boost JPY

Posted on March 16th, 2016

Exempting MRFs from negative rates narrows the BoJ’s NIRP more clearly to large institutions and allows retail investors to park their cash in safe zero-yielding funds.  NIRP was before and even more so now is aimed at weakening the JPY.  However, by standing by and letting the JPY strengthen in the face of this policy, […]