- Balance Sheet
- Posts
- 📈 Nope to NIRP.
📈 Nope to NIRP.
Japan raises rates for the first time since 2007
Together with
Welcome to the land of the rising rates. You know ZIRP is well and truly over when the BOJ is hiking. Did someone say end of an era?
The lowdown
Featured story
Japan raises rates for the first time since 2007
Japan has ended its negative interest rate policy (NIRP), marking a historic shift away from its years-long program of aggressive monetary easing. The Bank of Japan raised short-term interest rates for the first time since 2007, taking them from -0.1% to a range from “around zero to 0.1%”.
The BOJ also said it would abandon its yield curve control policy, which was introduced in 2016 to keep the yield on 10-year Japanese government bonds around 0%, and stop buying ETFs and Japanese REITs.
Japan has battled deflation since the late 1990s, but pressure has grown to exit its NIRP era as inflation rose and interest rates went up in other economies. That doesn’t mean aggressive rate hikes are on the cards. The BOJ says it anticipates “accommodative financial conditions will be maintained for the time being.”
Bay Area Times is a visual-based newsletter on business and tech, with 250,000+ subscribers.
Sign up with one click.
The content we're consuming today
Insider: The end of the realtor monopoly
Grub Street: The $9.5 million hangover
Off-balance sheet items
If you were as good at using Macs as you are at Excel, you’d know about these 10 hidden features.
The bottom line
My photo Me on a
on Teams Teams call— Ramp Capital (@RampCapitalLLC)
1:25 AM • Mar 19, 2024