Pedestrians make their way through the Ginza shopping district in Tokyo. In contrast to the West, inflation expectations in Japan remain stubbornly subdued despite the Bank of Japan’s accommodative monetary policy. Photo: Reuters Pedestrians make their way through the Ginza shopping district in Tokyo. In contrast to the West, inflation expectations in Japan remain stubbornly subdued despite the Bank of Japan’s accommodative monetary policy. Photo: Reuters
Pedestrians make their way through the Ginza shopping district in Tokyo. In contrast to the West, inflation expectations in Japan remain stubbornly subdued despite the Bank of Japan’s accommodative monetary policy. Photo: Reuters
Neal Kimberley
Opinion

Opinion

Macroscope by Neal Kimberley

Could the Japanese yen be a good reflation trade?

  • While the yen retains its safe-haven attributes, Japan’s exporters should be well placed to benefit from the global post-pandemic economic recovery
  • Japanese government bond nominal yields may not put off investors, given the different outlook for real yields

Pedestrians make their way through the Ginza shopping district in Tokyo. In contrast to the West, inflation expectations in Japan remain stubbornly subdued despite the Bank of Japan’s accommodative monetary policy. Photo: Reuters Pedestrians make their way through the Ginza shopping district in Tokyo. In contrast to the West, inflation expectations in Japan remain stubbornly subdued despite the Bank of Japan’s accommodative monetary policy. Photo: Reuters
Pedestrians make their way through the Ginza shopping district in Tokyo. In contrast to the West, inflation expectations in Japan remain stubbornly subdued despite the Bank of Japan’s accommodative monetary policy. Photo: Reuters
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Neal Kimberley

Neal Kimberley

UK-based Neal Kimberley has been active in the financial markets since 1985. Having worked in sales and trading in the dealing rooms of major banks in London for many years, he moved to ThomsonReuters in 2009 to provide market analysis. He has been contributing to the Post since 2015 and writes about macroeconomics from a market perspective, with a particular emphasis on currencies and interest rates.