Summary
The Bank of Japan raised its policy rate toward zero — the first meaningful rate increase in decades — ending the world's longest ultra-loose monetary policy experiment. The move triggered the unwinding of the global yen carry trade, causing brief but severe volatility in equity and bond markets.
The BoJ's rate decision, the carry trade mechanics, and the global market impact of yen strengthening.
Historical analysis of Japan's decades of near-zero rates and what normalisation means for global capital flows.
Liberation Day tariffs ignite stagflation trap
US–China Strategic Competition
Ukraine war triggers energy supply shock
Russia–Ukraine War
Middle East escalation raises energy risk
Israel–Gaza–Iran War
Rate hike pain drives far-right electoral surge
Western Democratic Fragility