No place for stronger yen in anti-deflation package
MARKET NEWS
Neil MacKinnon, senior currency strategist at Merrill Lynch, argues that the Japanese economy will remain in depression if the yen's value is allowed to rise
The Japanese government's anti-deflation proposals focus mainly on ways to clear the banking system's enormous exposure to non-performing loans, as well as ways of supporting the stockmarket. However, a key part of any package designed to end deflation in the Japanese economy has to be the exchange rate. Should the yen appreciate on a
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