BOJ Officials: Yen Weakness Heightens Inflation Risks, Open to Faster Rate Hikes
On July 22, Bank of Japan officials believe that the recent yen weakening is posing upside risks to inflation and are open to raising interest rates more frequently than once every six months. (Jin10)
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Historical data shows that a single rate hike is not enough to end a bull market; a full tightening cycle is the real threat.
Since 1945, the S&P 500 has experienced 12 bear markets with declines of over 20% and 4 deep corrections ranging from 18% to 20%. Among them, six occurred directly after interest rate hikes that triggered economic recessions, while two other cases had no relation to either rate hikes or recessions. Goldman Sachs believes that the market has already priced in multiple rate hike expectations; Morgan Stanley warns that rising yields could trigger a market correction; JPMorgan is more focused on oil prices and corporate earnings.
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