tHanks, Weston. You nailed it well. Except for how long it would take BOJ to issue a statement of Doing Nothing/No Change.😎 Turns out it doesn’t take that long.😎.
Appreciate it Bruce. And yea, you’re right- BUT, let’s not forget Rookie Ueda’s very 1st BOJ meeting as the Governor of the Bank of Japan from last April (jeez.. he hasn’t even been in the seat for a year - gotta say, he’s done much Kuroda dismantling in a short time).
April 28 2023 - Ueda’s 1st day of school - BOJ was also policy unchanged. And that unanimous vote “no change” - that didn’t come out until 1pm. And that’s if you don’t count Nikkei having also “leaked” (pre-announced) “policy unchanged” at 10am. Because Ueda & co already knew what the policy decision would be, they weren’t “vigorously debating” well into the PM open, only to arrive at unanimous vote for policy unchanged- they had Nikkei put the policy out there, and they watched the markets for 3+ hours. THAT was insanity and chaos for ANY BOJ day, let alone a no change day - almost historic.
If you want to revisit- see the episode from that day on my previous podcast - I forgot how much that pissed me off, as evident in my various call outs and criticisms lol👇
tHanks, Weston. You nailed it well. Except for how long it would take BOJ to issue a statement of Doing Nothing/No Change.😎 Turns out it doesn’t take that long.😎.
Appreciate it Bruce. And yea, you’re right- BUT, let’s not forget Rookie Ueda’s very 1st BOJ meeting as the Governor of the Bank of Japan from last April (jeez.. he hasn’t even been in the seat for a year - gotta say, he’s done much Kuroda dismantling in a short time).
April 28 2023 - Ueda’s 1st day of school - BOJ was also policy unchanged. And that unanimous vote “no change” - that didn’t come out until 1pm. And that’s if you don’t count Nikkei having also “leaked” (pre-announced) “policy unchanged” at 10am. Because Ueda & co already knew what the policy decision would be, they weren’t “vigorously debating” well into the PM open, only to arrive at unanimous vote for policy unchanged- they had Nikkei put the policy out there, and they watched the markets for 3+ hours. THAT was insanity and chaos for ANY BOJ day, let alone a no change day - almost historic.
If you want to revisit- see the episode from that day on my previous podcast - I forgot how much that pissed me off, as evident in my various call outs and criticisms lol👇
https://youtu.be/leBtBrrBNs0?si=C0VllgLuW-B0eQjo