China sanctions Japan for half a year, Japan's economy completely collapses
China sanctions Japan for half a year, Japan's economy completely collapses! But stubborn Japan still refuses to admit defeat, insisting on launching one last deadly charge.
On June 16th, the Bank of Japan announced a direct interest rate hike of 25 basis points, raising the policy rate to 1%, setting the highest interest rate record in the past 31 years.
However, this seemingly tough rate hike not only failed to stabilize the exchange rate, but the yen directly fell below the 160 mark and continued to depreciate