A global recession is on the horizon - please read OP for mod warning

The underlying reason for the current yen weakness is the rearguard action taken by the bank by the short selling. Hedge funds mounted an attack on Japanese bonds in March. They came away licking their wounds and having lost a lot of money trying to play chicken with the BOJ. They're back for a second bite of the cherry.

I don't have a crystal ball, but the BOJ has enormous firepower to see off these short-selling geronimo attacks. The hedge funds in question are likely to go bust before the central bank of the third largest economy in the world. I don't think the BOJ will lose their nerve here, they have trillions in cash reserves to throw at this, and it's not like they'll need a fraction of it to teach the hedge funds a lesson.

Putin took this opportunity because the wider global economy but especially Western Europe was in such a difficult and vulnerable place.

He is shoving against an unsteady wall. He is not the reason the wall is unsteady.

The actual cause of inflation doesn't really matter.

Inflation is too much money chasing too few goods. Whether the cause of inflation is supply shortages or money printing makes no difference.

More people want to buy new cars than there are new cars available. You can say this is down to supply shortages but that's no good to anyone when inflation is rampant. So what do we need to do? We need to match supply with demand. So we're not able to ramp up supply or else we'd have done it already, so what needs to be done is kill the demand. This is why rates need to go higher. Of all those people wanting to buy new cars, many of them will not buy a new car when the cost of finance reaches a certain point.

And the inflationary spiral has already begun now too. Ask any business owner if they can get workers. I was chatting to a valet + other services business owner at the weekend and he said he was looking for a young lad of 16 or 17 to give him a hand on a Saturday 9-5. He can not get anyone. He said one lad rang, he said he'd train him up and all of that and the young lad tells him..."I want 200 euro a day". Business owner said he wouldn't make that in the whole week doing them!