{"id":57820,"date":"2023-11-01T13:38:57","date_gmt":"2023-11-01T18:38:57","guid":{"rendered":"https:\/\/www.bu.edu\/pardeeschool\/?p=57820"},"modified":"2023-11-15T13:40:46","modified_gmt":"2023-11-15T18:40:46","slug":"grimes-deciphers-yens-financial-dance","status":"publish","type":"post","link":"https:\/\/www.bu.edu\/pardeeschool\/2023\/11\/01\/grimes-deciphers-yens-financial-dance\/","title":{"rendered":"Grimes Deciphers Yen&#8217;s Financial Dance"},"content":{"rendered":"<figure id=\"attachment_48777\" aria-describedby=\"caption-attachment-48777\" style=\"width: 324px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" src=\"\/pardeeschool\/files\/2021\/03\/Bill_Grimes1-314x300.png\" alt=\"\" width=\"314\" height=\"300\" class=\"size-medium wp-image-48777\" srcset=\"https:\/\/www.bu.edu\/pardeeschool\/files\/2021\/03\/Bill_Grimes1-314x300.png 314w, https:\/\/www.bu.edu\/pardeeschool\/files\/2021\/03\/Bill_Grimes1.png 344w\" sizes=\"(max-width: 314px) 100vw, 314px\" \/><figcaption id=\"caption-attachment-48777\" class=\"wp-caption-text\">Professor Grimes<\/figcaption><\/figure>\n<p><span> <a href=\"https:\/\/www.bu.edu\/pardeeschool\/profile\/william-w-grimes\/\">William Grimes<\/a>, Professor of International Relations and Political Science at Boston University\u2019s Frederick S. Pardee School of Global Studies was recently featured in an article by the Japanese national TV broadcaster <a href=\"https:\/\/www.bu.edu\/pardeeschool\/tag\/nhk-world\/\">NHK. <\/a><\/span><\/p>\n<p><span>The article, titled &#8220;Yen Drops to \u00a5151\/$1 on New York Markets for the First Time since October Last Year,&#8221; delves into Professor Grimes&#8217; insights on the Bank of Japan&#8217;s decision to elevate interest rate targets. This strategic move aimed at strengthening the yen and addressing inflation prompted Grimes to assert that the easing of Yield Curve Control (YCC) marked the initial step toward the normalization of Japanese monetary policy. Grimes outlined a sequential approach, starting with additional YCC easing, followed by Quantitative Easing tapering, and ultimately the elimination of the Zero Interest Rate Policy on overnight lending. <\/span><\/p>\n<p><span>Although the accompanying video wasn&#8217;t aired due to the Gaza invasion, the article encapsulates Professor Grimes&#8217; valuable perspectives. Explore the full article, in Japanese, <\/span><a href=\"https:\/\/www3.nhk.or.jp\/news\/html\/20231031\/k10014243701000.html\" target=\"_new\" rel=\"noopener noreferrer\">here<\/a><span>.<\/span><\/p>\n<p><span>Professor<\/span><span>\u00a0<\/span><a href=\"https:\/\/www.bu.edu\/pardeeschool\/profile\/william-w-grimes\/\">William Grimes<\/a><span>\u00a0<\/span><span>has taught at Boston University since 1996. He previously served as the Pardee School\u2019s<\/span><span>\u00a0<\/span><span>Dean for Academic Affairs,\u00a0<\/span><span>chair of the Department of International Relations, and the first director of the BU Center for the Study of Asia.<\/span><span>\u00a0<\/span><span>He is the author of, amongst others,\u00a0<\/span><span><em>Currency and Contest in East Asia<\/em>\u00a0(2008) and\u00a0<em>Unmaking the Japanese Miracle<\/em>\u00a0(2001).\u00a0<\/span><span>Read more about Professor Grimes on his<\/span><span>\u00a0<\/span><a href=\"https:\/\/www.bu.edu\/pardeeschool\/profile\/william-w-grimes\/\">faculty profile<\/a><span>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Professor Grimes shared key insights on the Bank of Japan&#8217;s strategic move to raise interest rates, asserting that it marked the initial step toward Japanese monetary policy normalization. The article explores Grimes&#8217; sequential approach, foreseeing Yield Curve Control easing, Quantitative Easing tapering, and the elimination of the Zero Interest Rate Policy.<\/p>\n","protected":false},"author":22859,"featured_media":48777,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[8410],"tags":[12043,8808,8859,3085,9122,9844,1390],"_links":{"self":[{"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/posts\/57820"}],"collection":[{"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/users\/22859"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/comments?post=57820"}],"version-history":[{"count":1,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/posts\/57820\/revisions"}],"predecessor-version":[{"id":57821,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/posts\/57820\/revisions\/57821"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/media\/48777"}],"wp:attachment":[{"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/media?parent=57820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/categories?post=57820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/tags?post=57820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}