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Ben Blanchard in Bloomberg Opinion: ‘Butterfly or Godzilla? Chaos and the falling yen’

15th FEB. 2024

In Bloomberg’s recent Opinion’s piece, John Authers discusses US inflation and the implications if the Bank of Japan were to knock over the carry-trade dominoes set up by Mrs. Watanabe.

"After Tuesday’s US CPI print almost certainly postponed the Fed’s first rate cut in almost four years, it now looks as though the European Central Bank might start the process sooner. As Absolute Strategy’s Ben Blanchard notes, an ECB easing while the Fed stayed put would weaken the common currency. The eurozone’s central bank could begin its easing cycle as early as June. The Fed will likely follow suit soon afterward, offering the euro some respite."

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