Their economy is only of the major economies that has come unscathed (in terms of real growth) through the pandemic. My guess is that is why they feel emboldened to do these major moves. Also I think they foresee a major contraction in asset prices when global monetary polices starts tightening and are trying to get ahead of that.
We can only guess that’s the case. Because they have lied throughout the entire pandemic we really don’t know what the effect of it has really had.
Good thing it’s only their economy and definitely won’t spread everywhere else! Kind of like that virus they had in Wuhan… that was a close one.