Robin Brooks says lasting yen strength will require more than FX intervention: the BoJ must cut JGB purchases to let long-term yields rise. He argues a 25 bp ra

Robin Brooks says lasting yen strength will require more than FX intervention: the BoJ must cut JGB purchases to let long-term yields rise. He argues a 25 bp rate hike is too small, and recent interventions have not materially slowed the yen’s decline.