Date: 2023-07-30T18:06:56Z Creator: Bitfolio Academy
The Bank of Japan has finally roared back in response to the US Federal Reserve’s ambitious interest rate hikes. Making a momentous move today, the Bank of Japan has bravely escalated its own interest rate from a meek half a percent, all the way to a more assertive 1%! The typically smooth-sailing financial world is churning, and it’s all thanks to the Fed’s audacious 5.5% interest rate!
Rivers of money have been rushing from the Land of the Rising Sun to Uncle Sam’s shores. Evidence? Look no further than the humble Japanese yen, visibly gasping for breath against the mighty US dollar. But the Bank of Japan remains resolute, fiercely committed to quantitative easing and their decision to keep interest rates pegged low – all while global inflation is snapping at their heels.
Where other countries are reeling from inflation, Japan maintains a stoic visage. A significant driver of inflation in the country has been associated with rising costs for imported energy and food. But never one to back down from a fight, Japan is standing strong.
Standing tall in turbulent times, the Bank of Japan showed its determination to keep interest rates low 23 years ago when it started quantitative easing and now reiterates its commitment, unflinching against the heavy winds of change sweeping across the globe. Watch this space as we see the thrilling saga unfold.
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