mishtalk.com / Mike “Mish” Shedlock / September 21, 2016
In the latest bit of interest rate insanity, the Bank of Japan Launches New Form of Policy Easing.
The bank will cap interest on the 10-year government bond at 0%, for as long as it takes to exceed its target of 2% inflation.
The Nikkei rose nearly 2% on the announcement, gold rallied $13, and silver $0.51.
Curiously, after an initial 1% decline, the Yen rose about 2% for a net gain of about 1% vs. the US dollar.
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