Japan’s intervention underlines its interest rate isolation

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No sooner had Bank of Japan Gov. Haruhiko Kuroda finished insisting that ultraeasy money was here to stay than authorities swept in to mop up the damage.

If there was ever any doubt that the primary cause of the yen’s collapse this year was the BOJ’s prolonged easing in the face of interest rate hikes pretty much everywhere else, it was wiped away Thursday.

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