ICYMI, from the Bank of Japan on Thursday:
BOJ governor Ueda comments on phrasing of needing time to scrutinise market risksBOJ governor Ueda: Uncertainties surrounding Japan’s economy, prices remain highBOJ governor Ueda: Will pay attention to upside risks to prices from weak yenBOJ governor Ueda: It is possible that unforeseen negative effects could emerge with more rate hikesBank of Japan leaves rates unchanged, as widely expected
I posted this earlier on what’s holding Ueda back:
Bank of Japan Governor Ueda dropped a hint on what he sees as the main block to rate hikes
Wells Fargo don’t think he’ll be constrained for too long, not looking for a December hike though:
an environment of gradually improving economic growth, inflation that is expected to remain around target in medium term, but some degree of political uncertaintyWF project that the Bank of Japan will proceed with further rate hikes at a somewhat gradual pace
WF remain comfortable with forecast for policy rate hikes by 25 bps at each of its January 2025 and April 2025 meetings,
This article was written by Eamonn Sheridan at www.forexlive.com.
