Loose monetary policy contributed to commodity boom: BoJ paper
High demand for commodities and globally accommodative monetary conditions caused the surge in global commodity prices and strengthened cross-market linkages, a Bank of Japan paper, published on Friday, says.
Takuji Kawamoto, Takeshi Kimura, Kentaro Morishita and Masato Higash, the paper's authors, use the historical decomposition of vector autoregression models to identify the main causes of fluctuations in global commodity markets. They note that global commodity prices have been on an
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