by Wolf Richter
Wolf Street
Which devalued the yen by a Third-Worldish 30% against the USD in two years as other central banks hiked in big increments and started QT.
Scraps NIRP. Citing “the virtuous cycle between wages and prices,” with both rising, and citing its thingy that “the price stability target of 2 percent would be achieved in a sustainable and stable manner,” the Bank of Japan today scrapped its negative interest rate policy by hiking its short-term policy rate by a whopping 10 basis points from -0.1% to a whopping 0.0%, the first rate hike, if you can even call it that, since 2007.