Pacific Investment Management Co. (PIMCO) has been building a long yen position in anticipation of the Bank of Japan tightening its monetary policy.
![The PIMCO investment team anticipate a shift in Japan's monetary policy as inflation rises, as depicted from their offices. PHOTO: Scott Mlyn/ALP/Cnbc](https://krugmaninsights.com/wp-content/uploads/2023/11/102261917-IMG_4546-1024x682.webp)
Emmanuel Sharef, a Pimco fund manager, forecasts that Japan’s inflation will accelerate, which will force the BOJ to abandon or adjust its yield-curve control policies and potentially hike