Japan got so spooked by Monday's market meltdown that it's now playing cool on more interest-rate hikes
The Japanese market saw its worst day in decades on Monday.
Richard A. Brooks/AFP/Getty Images
- Stocks are rising after Monday's meltdown as Japan assured it will not hike rates if markets are unstable.
- Some analysts say BOJ's recent rate hike triggered Monday's sell-off as traders unwind yen carry trades.
- The uncertainty in carry trades could complicate Fed interest rate decisions. Rapid cuts could unravel more carry trades.
Japan's central bank has capitulated to the markets.
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