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The U.S. Will Not Follow In Japan’s Footsteps

The U.S. Will Not Follow In Japan’s Footsteps
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The Japan Central Bank caught the market by surprise last week when they decided to embark on a negative interest rate policy (NIRP) and lower short-term deposit rates below zero. This is just another step in a series of steps that they have taken in their pursuit to re-inflate the economy. The action setoff a relief rally in risk-assets since the market is accustomed to interpreting loose monetary policy as bullish for asset prices. Indeed, recent history would support this notion. Central bank policy has been beneficial for asset prices.

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