'Economic Discontent' Is On The Rise As Central-Bank-Nado Strikes Markets Overnight
A herd of wild central banks stormed across markets overnight - following The Fed's uber-hawkish 75bps hike and dot-plot projections - sparking chaotic swings in everything from Yen to Gilts. Everyone hiked or held rates... except Turkey which cut!
BoJ kept its monetary policy unchanged, as expected, with rates at -0.10% and QQE with yield curve control maintained to target the 10yr JGB yield at around 0% through a unanimous decision.
Japanese Government and BoJ intervened in FX markets for the first time since 1998, according to the Japanese Vice Finance Minister...