Mieno's 'Christmas present' rate hike ends the bubble

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• Princes of the Yen whole source · open book

  He decided to end the bubble and raised the official discount rate only a fortnight after becoming governor, delivering the infamous “Christmas present” of 1989. Asset prices, led by stock prices, began to tumble in 1990.

  chapter: 11. The Battle of the Yen

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• Richard Werner author of the source

Appears in 3 stories

• Japan's asset bubble: credit orders, land, stocks, and the Nikkei step 21
• Paper money, central banks, and credit creation step 36
• Princes of the Yen: Japan built, bubbled, and broken step 192

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