tag:blogger.com,1999:blog-18079728.post529110218698575222..comments2023-11-02T07:30:03.967-07:00Comments on Cassandra Does Tokyo: And You Thought You Were Tight !"Cassandra"http://www.blogger.com/profile/17412381249313151515noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-18079728.post-28062812580729735972007-06-11T18:03:00.000-07:002007-06-11T18:03:00.000-07:00Anonymous,I wont argue about the factual matter of...Anonymous,<BR/>I wont argue about the factual matter of the current reserve bias, but, does this matter insofar as the system remains so awash with reserves, such that the BoJs "tightness" is like bailing a boat full-'o-water with a teaspoon? <BR/><BR/>Rate policy (nearZIRP) and expectation (slowly slowly slowly) determines the extent of the carry trade, and retail capital flight, and so the "Cassandra"https://www.blogger.com/profile/17412381249313151515noreply@blogger.comtag:blogger.com,1999:blog-18079728.post-23513119767801642882007-06-10T19:29:00.000-07:002007-06-10T19:29:00.000-07:00Actually BoJ is still draining reserves from the s...Actually BoJ is still draining reserves from the system, so in this respect it is running a tighter monetary policy than the ECB which has been expanding reserves at 10% or moreAnonymousnoreply@blogger.com