The Bank of Japan (BoJ) stunned markets last Friday when it lowered interest rates to -0.1%. With rates already at zero, the BoJ joined the ranks of central banks that have pushed rates into negative territory.
If you’re shocked by any of this, you haven’t been paying attention to what’s going on. Even though markets act surprised, they really shouldn’t be. Anyone that’s following what central banks have been doing would’ve seen the writing on the wall.
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