Investors start gaming out exit plan for global rate divergence

Most leading central bankers, consequently, are shifting focus to preserving economic growth and employment while Japan again plays the outlier. — Bloomberg

New York: Three of the world’s largest central banks moved interest rates in different directions this week as a long-awaited, but potentially short-lived, divergence in monetary policies deepens.

The Bank of Japan (BoJ) kicked off the action on Wednesday by unexpectedly hiking as governor Kazuo Ueda pressed ahead with his push to lift his benchmark clearly away from zero.