BoJ Tamura says neutral rate around 2% and its important to get closer sooner
Tamura is the most hawkish voice on the BOJ board and his comments will be read as the outer boundary of where policy could go rather than consensus, but the specificity of the 2% neutral rate target and the every few months cadence language directly echoes what appeared in the J
USD/JPY — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
Morgan Stanley | Bullish | 140.00 |
UOB | Bearish | 159.80 |
ING | Bullish | 152.00 |
All 23 desk targets for USD/JPY
Desk synthesis pending
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Cross-firm research
USD/JPY at 159.40: Consensus Targets 156.0 With a 25.5-Point Spread
USD/JPY trades 2.18% above the 23-firm Dec-26 consensus of 156.0, with a 25.5-point dispersion reflecting sharply divergent BoJ and US yield assumptions.
USD/JPY Consensus Check: Spot at 159.27, Median Target 156.0 — Week of August 27, 2026
USD/JPY trades 2.1% above the 23-firm median Dec-26 target of 156.0, with a 25.5-point dispersion range signalling deep disagreement on the BoJ rate path.
USD/JPY Consensus Check: Spot at 159.09, Target 156.0 — Week of August 26, 2026
USD/JPY trades at 159.09, nearly 2% above the 23-firm Dec-2026 consensus of 156.0, with a 25.5-point dispersion signalling deep disagreement on the BoJ-Fed spread path.