Why Global Markets are Addicted to the Bank of Japan

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.1 • 1.1K Ratings

🗓️ 13 February 2022

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

Inflation is rampant globally, and the world’s major central banks are all taking decisive measures to tighten policy in their respective ways, with the exception of one major developed market central bank: the Bank of Japan. Weston Nakamura is based in Tokyo, Japan and has been monitoring, analyzing and trading the BOJ throughout Governor Kuroda’s controversial tenure, and explains how the Bank of Japan’s Yield Curve Control policy has enabled the other major central banks and governments from making tough decisions and allowed for them to keep monetary and fiscal policy loose by “exporting low yields.” Weston also warns of a major potential inflection point ahead, as global central banks retreat from policy accommodation, leaving the BOJ the sole source of policy continuity in the QE-era. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:30.2	Hey everyone, thanks for tuning in to the weekend edition of the Real Vision Daily Briefing.
0:35.0	Here's Weston Nakamura to break down everything you need to know.
0:38.8	Hey everyone, Weston Nakamura from Real Vision in a very snowy Tokyo today.
0:43.8	And I'd like to talk about the Bank of Japan, B-O-J.
0:48.8	And so I give you Haruhiko Kuroda, the governor of the Bank of Japan.
0:54.8	Exactly a year ago that we sat in these very chairs,
0:58.8	overlooking Davos and its mountains to talk about monetary policy.
1:02.8	The world has changed for the worse.
1:05.8	Oh, Patrick was.
1:07.8	And we have found a room to expand our QQE if necessary.
1:15.8	In fact, government, last year in Dallas, right?
1:17.8	We were talking, I think, really almost a day per day in 2015.
1:21.8	And you're telling me that you would and could be much more creative in expanding stimulus.
1:27.8	We have been purchasing a government bond.
1:31.8	Substantially, at this stage, you're roughly speaking.
	...

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