By most measures monetary policy is still incredibly loose: the rise in the short-term rates over the past year has been partly offset by a drop in bond yields; and the yen's real trade-weighted value is at its lowest for at least 30 years.
By most measures monetary policy is still incredibly loose: the rise in the short-term rates over the past year has been partly offset by a drop in bond yields; and the yen's real trade-weighted value is at its lowest for at least 30 years.
许多货币政策仍旧留有非常大的余地：一年以上短期利率的提升已经通过债券收益的下降被部分的弥补；还有日元实际贸易加权值处于至少30年里的最低。