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30.10.26 - 18:57
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"Mission Accomplished": BOJ Declares Victory Over Deflation, Then Speeds Up ETF Dump To A Breakneck 43 Years (ZeroHedge)
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"Mission Accomplished": BOJ Declares Victory Over Deflation, Then Speeds Up ETF Dump To A Breakneck 43 Years
Fourteen years, three governors, negative rates, yield curve control and the largest central bank equity hoard in history later, the Bank of Japan finally said the words.In its quarterly Outlook Report released overnight alongside a widely expected decision to keep the policy rate at 1.25% (by an 8-1 vote, with hawk Hajime Takata dissenting in favor of a hike to 1.50%), the BOJ quietly retired the phrase it has used for years, that it expects to achieve its 2% target "between the second half of fiscal 2026 and fiscal 2027", and replaced it with this:"underlying CPI inflation is at a level that is generally consistent with the price stability target of 2 percent."In other words, the war on deflation that has defined the Japanese economy for three decades is, officially, over. Reuters called it the BOJ declaring "victory in a nearly 14-year battle to hit...
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