Imagine you are living in a country where the interest rate is negative, what does that mean? It means the money you have sitting in the bank doesn't give you interest! Your money isn't growing!
Today the Bank of Japan announced adopting a negative interest rate for the country. We believe it is a move to stimulate the economy. It is a supplementary increase in Japan's qualitative and quantitative easing programme (QQE). Sounds like the QE2 The States used to have.
Nikkei 225 experienced a roller coaster ride during the trading hours. Finally, the cash market surged 476.85 or 2.80 percent, closed at 17518.30. As for Japanese Yen, we see some weaknesses. ¥100 is equivalent to RM3.40; ¥100~ USD $0.82 or 1USD ~¥120.
Maybe this is the time to visit Japan; time to collect some quality Japanese liquor...
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