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Macro Watch: Bank of Japan, Yen Liquidity, and Crypto Risk Allocation (2025–2026)
Global markets may be underestimating a potential macro shift unfolding in Japan. According to JPMorgan, the Bank of Japan is expected to raise interest rates twice in 2025, with policy rates potentially reaching around 1.25% by the end of 2026. If realized, this would represent one of the most meaningful transitions in Japanese monetary policy in decades, marking a clear departure from the era of ultra-loose conditions and negative real rates.
For global risk assets, this is not a lo
Macro Watch: Bank of Japan, Yen Liquidity, and Crypto Risk Allocation (2025–2026)
Global markets may be underestimating a potential macro shift unfolding in Japan. According to JPMorgan, the Bank of Japan is expected to raise interest rates twice in 2025, with policy rates potentially reaching around 1.25% by the end of 2026. If realized, this would represent one of the most meaningful transitions in Japanese monetary policy in decades, marking a clear departure from the era of ultra-loose conditions and negative real rates.
For global risk assets, this is not a lo
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