Apathy and anticlimax are what a central bank aspires to when the time comes for a momentous policy decision. By this measure, the Bank of Japan’s return to positive interest rates was a triumph — with high rates elsewhere, and governor Kazuo Ueda taking a year to reach this well-flagged decision, his 0.1 percentage point rise in Japanese interest rates sent no shockwaves. The yen barely twitched. It is still close to the ￥150 lows against the dollar it found when US rates began to climb in 2022.
央行在做出重大政策決策時，渴望得到的反應是冷漠和平淡。按照這個標準，日本央行(Bank of Japan)恢復正利率是一次勝利——日本央行行長植田和男(Kazuo Ueda)將日本利率上調0.1個百分點，并未引起任何震動，因為在其他地方利率較高的情況下，他花一年時間做出了一個早有預兆的決定。日元幾乎沒有動搖，仍然接近1美元兌150日元的低點，這是2022年美國利率開始上升時的水平。
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