A transformative period in Japan

• As the global monetary policy cycle rolls over and many developed economies brace for slower growth prospects in 2024, Japan stands out as a country which has not yet embarked on an interest-rate hiking cycle, and where economic growth is expected to be relatively resilient. A transformative period in Japan Shifting dynamics and the impact on the yen • These dynamics, in our view, have favorable implications for the Japanese yen, which remains undervalued by historical standards. Both cyclical and structu ...