BOJ preview: Daiwa sees hold, but 2% inflation call could open door to December hike
A hold is largely the base case, so the yen and JGB yields are likely to take their cue from the language rather than the decision. A formal declaration that underlying inflation has reached 2%, a Takata dissent and any shift by Ueda toward “next meeting” phrasing would together
USD/JPY — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
Morgan Stanley | Bearish | 170.00 |
Standard Chartered | Bullish | 152.00 |
Scotiabank | Bullish | 140.00 |
All 24 desk targets for USD/JPY
Desk synthesis pending
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Cross-firm research
USD/JPY at 157.71: Consensus Targets 156.0 With a 30-Point Spread
Spot USD/JPY at 157.71 sits 1.1% above the 25-firm Dec-26 consensus of 156.0, with a 30-point dispersion signalling deep disagreement on the BoJ-Fed spread.
USD/JPY at 157.83 vs 156.0 Consensus: Week of October 28, 2026
USD/JPY trades 1.17% above the 25-firm Dec-26 median of 156.0, with a 30-point dispersion signalling deep disagreement on the BoJ-Fed spread trajectory.
USD/JPY Consensus Check: Spot at 157.68, Median Target 153.0 — Week of October 27, 2026
USD/JPY trades 3.06% above the 25-firm median Dec-2026 target of 153.0, with a 25.5-point dispersion range signalling deep disagreement on the BoJ-Fed rate path.