On May 1, 2019, a new era will dawn for Japan when Crown Prince Naruhito accedes to the Chrysanthemum Throne on the abdication of Emperor Akihito. Japan was booming economically in January 1989 when the Heisei era began, but at its end, the economy is not in robust health. Photo: AFP
Neal Kimberley
Opinion

Opinion

Macroscope by Neal Kimberley

Yen boost an unwelcome gift from the Fed’s dovish turn

  • The Bank of Japan, which has for years been trying to lift the economy out of a deflationary spiral, is unlikely to tolerate a rising yen and will act if it has to

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On May 1, 2019, a new era will dawn for Japan when Crown Prince Naruhito accedes to the Chrysanthemum Throne on the abdication of Emperor Akihito. Japan was booming economically in January 1989 when the Heisei era began, but at its end, the economy is not in robust health. Photo: AFP
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US Federal Reserve chairman Jerome Powell speaks during a press conference in Washington on March 20. The Fed left interest rates unchanged after its two-day policy meeting. Photo: Xinhua
David Brown
Opinion

Opinion

Macroscope by David Brown

The Federal Reserve has halted policy normalisation. Now, other central banks should follow suit

  • The Fed’s decision to stop interest rate rises and the shrinking of its balance sheet this year should be a cue for central banks in Europe, Japan and particularly China to take steps to bolster economic activity

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US Federal Reserve chairman Jerome Powell speaks during a press conference in Washington on March 20. The Fed left interest rates unchanged after its two-day policy meeting. Photo: Xinhua
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