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Lately, Japan has been the country with the most aggressive easy monetary policy. This comes in its effort to stimulate the economy. And this has caused the yen to plunge and the stock market to surge.
However, Japan’s leaders may have gotten ahead of themselves. At least that’s what they’re saying about.
Here’s a quote from Japanese Finance Minister Taro Aso from Reuters:
“It seems that the government’s policies have fuelled expectations and the yen weakened more than we intended in the move to around 90 from 78,” Aso told lawmakers in the lower house budget committee.
According to Morgan Stanley analysts, Japan’s efforts have “changed the game,” and now they’re recommending to their clients to trade the global currency war.