Nachhilfe für alle Zinssenkungs-Optimisten
Was bewirken Zinssenkungen ???
An Overview of Japan`s Economy 1985-2000
After the September 1985 Plaza Accord, the yen`s appreciation
hit the export sector hard, reducing economic growth from 4.4
percent in 1985 to 2.9 percent in 1986
(EIU 2001). The
government attempted to offset the stronger yen by drastically
easing monetary policy between January 1986 and February 1987.
During this period, the Bank of Japan (BOJ) cut the discount
rate in half from 5 percent to 2.5 percent.
economic stimulus, asset prices in the real estate and stock
markets inflated, creating one of the biggest financial bubbles in
history. The government responded by tightening monetary policy,
raising rates five times, to 6 percent in 1989 and 1990.
these increases, the market collapsed.
The Nikkei stock market index fell more than 60 percent-from a
high of 40,000 at the end of 1989 to under 15,000 by 1992.
der Nikkei war in Japan der Hauptmarkt-Index
in den USA dürfte der S&P500 der Hauptmarkt-Index sein.