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Maybe the Federal Reserve and the Bank of Japan have something in common after all. Earlier this week, the BOJ made the epochal decision to scrap negative rates and move slightly into positive territory for the first time in eight years, and abandoned a range of unconventional policies to make money run smoothly. A few weeks ago, moving above zero this early seemed extremely unlikely. But while its direction was hawkish, policy remained very, very lenient and was accompanied by an ambivalent press conference by the governor, Kazuo Ueda. Because the BOJ was so much less hawkish in its communications than it might have been, the historic move was greeted with declines for the yen and Japanese bond yields.