This was a mammoth week for central bank policy decisions. On the one hand the Bank of Japan (BOJ) finally put an end to the world’s last negative rate regime, Taiwan’s central bank surprised markets by raising its policy rate by 12.5Bps while the Swiss National Bank (SNB) surprised markets with a 25Bps rate cut. That last mile of inflation is causing more divergence across central banks globally with central banks in the east raising rates, the west embarking on rate cuts while China remains on the sidelines owing to concerns of a weaker Renminbi. There was no policy change from the Federal Reserve (Fed) with the ... (full story)