Speaking just days after U.S. President Donald Trump returned to office in January, the head of the Bank of Japan was sanguine.
"We judged that the international financial and capital markets have remained calm overall since” his return to power, Gov. Kazuo Ueda told reporters, using the lack of market ructions to explain his decision to raise rates that day to the highest level in 17 years.
How premature that view now looks.
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