It shows that, no matter how much policymakers might wish to brush aside the ups and downs of financial markets, when conditions get rough they can't help but use their powers to calm things down.
Speaking in northern Japan on Wednesday, deputy governor Shinichi Uchida said, 'I believe that the Bank needs to maintain monetary easing with the current policy interest rate for the time being,' given 'extremely volatile' developments in markets.
"They have become far too sensitive of market movements on the downside," Ruchir Sharma, author of a provocative new book called "What Went Wrong with Capitalism," tells Axios.
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