Japan Strategy – NIRP to ZIRP finally?

TIME FOR A NEW STRATEGY FROM BOJ

• If the BoJ exits its Negative Interest Rate Policy (NIRP) this week, to zero (ZIRP) expect a snap reaction to a stronger yen with temporarily weaker stock prices, especially exporters.
• The drivers of the Japanese equity market in 2023 remain intact and are likely to build momentum for the rest of the year.
• The easy money for 2024 has been made, but the peak of opportunity in Japan has not passed.

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