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The Bank of Japan attempted some degree of currency intervention yesterday. It didn't work.
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Sep 20, 2012 08:42
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I think they should bring it down because I'm looking to buy a car and it would help me out a lot. But yea, I think people wildly underestimate the safe-haven effect. New Zealand has the same problem, although given our size we'd probably have to print money for the next thirty years straight to even dent the NZD, let alone seriously bring it down. Japan may not have inspiring productivity, but it's a relatively safe and stable market.
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Sep 21, 2012 08:12
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There's been big news today regarding the yen. The Finance Minister has been sacked and the Yen is apparently going to be the hot topic of discussion at the G7. This could signal a major poo poo away from the "talk the yen down" approach and hint at a far more aggressive approach to rebuilding export receipts.
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Sep 28, 2012 06:28
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ErIog posted:Neither of these options are viable or make sense. The high yen has nothing to do with any policies in Japan. It's all global factors, but yet we have financial ministers stepping down over it. Ain't nothing the G7 or Diet can do about it. Sounds sadly close to home. I suspect the end result will be the same - currency stays high until the economy can't export it's way out of paying the bills, the Balance Payments and Debt Service relative to BOP goes tits up and the currency isn't seen as such a safe haven anymore.
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Sep 28, 2012 18:31
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Arkane posted:http://media.chicagobooth.edu/mediasite/Viewer/?peid=f15d95d054e8442ab0cc1c60321383101d Japan is basically in the worst position you can be in - zero domestic growth, low productivity gains and with a large amount of foreign investment in Europe and America. It's basically been stagnant for about five years and now the Yen is both high and volatile at a time when the US and Euro are basically willfully devaluing. The BOJ can make its own moves, but it's not going t outmaneuver the Fed. Abenomics is just one last attempt to ignore the fact the future of the economy is basically entirely out of their hands.
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Mar 14, 2013 05:07
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