With the Federal Reserve's key rate at 5.25% and the European Central Bank's main rate of 3.5%, the BoJ's ultralow 0.25% has fuelled an unhealthy boom in the yen carry trade—as investors borrow cheaply in Japan to invest in higher-yielding assets overseas
With the Federal Reserve's key rate at 5.25% and the European Central Bank's main rate of 3.5%, the BoJ's ultralow 0.25% has fuelled an unhealthy boom in the yen carry trade—as investors borrow cheaply in Japan to invest in higher-yielding assets overseas
在美联储的核心利率高达5.25%欧洲中央银行的利率为3.5%的情况下，日本央行0.25%的超低利率助长了日元套息交易非健康的繁荣——投资者可以以很低的代价从日本获得借贷，投资于海外高收益的资产。