SCOREBOARD: Failure to launch

Japan's QE announcement failed to lift markets, but stronger German sentiment and US earnings reports gave some support.

Well there was some expectation that the Bank of Japan’s QE program may give the markets a boost but no such luck. The program confirmed a 2 per cent inflation target and said it’ll print off ¥13 trillion in order to get the ball rolling. The Nikkei responded by weakening and the yen actually strengthened as the bank’s decision to print came in below expectations. It's not printing enough apparently! Although that view kind of overlooks the fact that their printing program to date has failed.


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