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UBS On-Air: Paul Donovan Daily Audio 'How to do a rate hike'
Published 2 months, 1 week ago
Description
As expected, the Bank of Japan raised rates to 1%, a level last seen in the distance past of 1995. This was a different move from the recent ECB policy error—unlike Europe, Japan began the year with an accommodative monetary stance. The rate increase is part of a process of returning to neutral, and is broadly considered appropriate.