The BoJ is edging toward another rate hike—but timing is everything. Inflation is rising, the yen is weakening, and global...
Bank of Japan
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Research Briefing
As expected, the BoJ maintained its policy rate at 0%-0.1% at Friday's meeting. With more confidence on the ongoing wage-driven...
Research Briefing
We now project that the Bank of Japan will start to raise its policy rate next spring assuming another robust...
Research Briefing
Reflecting a surprisingly strong Spring Negotiation result and weaker yen assumption, we have upgraded our baseline wage and inflation forecasts....
Research Briefing
The Bank of Japan (BoJ) decided to end its negative interest rates policy and set the target band for the overnight market rate at...
Research Briefing
Markets appear to be increasingly converging with our forecast that the Bank of Japan will abolish its negative interest rate...
Research Briefing
The Bank of Japan left both short-term and long-term policy rates unchanged at Tuesday's meeting. Amid a decline in global...
Research Briefing
Inflation will likely decelerate in 2024 as the impact of imported inflation wanes. We expect the Bank of Japan will...
Research Briefing
More market participants appear to have become confident that the wage-driven inflation is real, which will encourage the Bank of...
Research Briefing
Despite today's (28th July) surprise tweak to YCC policy, we continue to believe that Governor Ueda is determined to avoid...
Research Briefing
The Bank of Japan (BoJ) left short-term policy rates at -0.1% and long-term rates at around 0% at today's policy meeting. With...
Research Briefing
The Bank of Japan (BoJ) left monetary policy unchanged at its first meeting under Governor Kazuo Ueda. Lower global yields...
Research Briefing
At Governor Kuroda's final policy meeting, the Bank of Japan (BoJ) left short-term policy rates at -0.1% and long-term rates at around 0%. Despite mounting...
Research Briefing
Japan's structural labour shortage has deepened. While it may not result in a wage-inflation spiral now, labour scarcity will put...
Research Briefing
We think the BoJ’s next governor, expected to be respected scholar Kazuo Ueda, will shift cautiously to a more orthodox policy framework...
Research Briefing
The Bank of Japan enhanced its funds-supplying operations in January, after widening the tolerance band for 10-year JGB yields in...
Research Briefing
The Bank of Japan maintained its monetary policy settings at today’s (18th Jan) meeting. At the same time, the BoJ...
Research Briefing
In December, the Bank of Japan surprised markets by widening the allowance corridor for the 10-year JGB yield target, aiming to fortify its Yield Curve Control policy. The shift effectively results in a tightening of monetary policy, although we think the impact on growth will be limited.
Research Briefing
We doubt the surprise move from the Bank of Japan to expand the tolerance range for 10-year JGB yields to...
Research Briefing
While few observers expect to see any growth surprise in Japan, some have started to wonder whether global inflation may...
