BOJ deputy governor Uchida says will continue to raise policy rate if conditions align
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Further rate hikes will depend on economic activity, prices and financial conditions There is risk of underlying inflation deviating upwards to the level above the price target Important for underlying inflation to stabilise around 2% level Uncertainties remain with regards to si
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BOJ policymaker Masu warns that yen depreciation may raise inflation expectations
The desk views the recent commentary from BOJ policymaker Masu as a critical signal regarding the potential for yen depreciation to elevate inflation expectations in Japan. Per the full note [source], Masu highlighted the risks associated with rising inflation expectations that could stem from a weaker yen, emphasizing the need for the BOJ to maintain a vigilant policy stance. This aligns with our assessment that the BOJ may need to adjust its policy rate in response to evolving economic conditions, particularly as Japan grapples with inflationary pressures that have emerged more prominently than in previous decades. Current market sentiment reflects a cautious approach, with traders anticipating potential policy shifts in the near term.
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