There are two events this week that will shape the investment climate potentially for the rest of the year. The first is the Bank of England meeting. The following day is the US employment report. Both events take on added significance. The Bank of England enters a new era. The Monetary Policy Committee meets as usual, but shortly after it, the minutes will be published, and this will contain the vote itself. There will no longer be a couple week delay. It will be interesting to see if other central banks, including the Federal Reserve and Bank of Japan adopt a similar approach over the medium term.
Japan is at a momentous turning point. On 16 July 2015, the government of Shinzo Abe used its big majority in the House of Representatives to override objections from opposition parties and pass legislation permitting collective self-defence (CSD). However, this is one of several misdirected solutions following years of conservative revisionism.