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WEEKLY LOOK AHEAD: Ignore the Central Banks at Your Peril - November 2, 2014

WEEKLY LOOK AHEAD: Ignore the Central Banks at Your Peril - November 2, 2014

5 Years ago | November 02, 2014 00:00:00



Bank of Japan Shocker
The Bank of Japan blindsided the markets Friday with an unexpected policy easing as they finally realized that the economy is headed nowhere. The central bank decided to accelerate its purchases of Japanese government bonds (JGB's) so that its holdings increase at an annual pace of JPY 80 tln, up by JPY30 tln. It also announced a tripling of its purchases of exchange-traded funds (ETF's) and real-estate investment trusts (REITs) and buy longer-dated debt. The policy changes sent the Nikkei up sharply and saw the USDJPY spike higher.

ECB Next in the Docket
Bold action by the Bank of Japan Friday puts pressure squarely on the European Central Bank Thursday as German

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