Accordingly, Government related entities (GREs) continue to maintain strong balance sheets, with cash surplus, on the back of the UAE’s stable economy; allowing them to reinvest in the nation’s expansionary agendas.

Source: https://www.emirates247.com/business/economy-finance/dubai-islamic-bank-s-net-profit-exceeds-aed1-5bn-during-q1-23-2023-04-19-1.708605

In previous years, Zimbabwe faced increased global turmoil, while expansionary monetary policy has put initial pressure on inflation and the exchange rate.

Source: https://www.africanews.it/english/continued-reforms-to-boost-macro-economic-stability-in-zimbabwe/

In response to the slowdown, central banks cut interest rates and rolled out expansionary policies.

Source: https://businessday.ng/sponsored/article/the-key-themes-guiding-your-investment-journey-in-2023/

The cabinet, the council said, had not made any major political choices in the spring statement and with its “expansionary fiscal policy” is now “very close to the edge”.

Source: https://www.dutchnews.nl/2023/05/council-of-state-criticises-cabinet-spending-warns-of-risks/

The hypothesis above states that borrowing does respond significantly to expansionary shocks.

Source: https://seekingalpha.com/article/4614718-the-fed-finds-that-37-percent-of-us-firms-are-close-to-default?source=feed_all_articles

USDJPY: The USDJPY continues its run to the upside as sources debunk the BOJ Ueda's comments regarding ending expansionary policy sooner than expected.

Source: https://www.forexlive.com/technical-analysis/kickstart-your-fx-trading-for-december-11-a-technical-look-at-eurusd-usdjpy-and-gbpusd-20231211/