Preview – Bank of Japan meeting this week – no change to policy expected

October 29, 2024
-FCHFX

October 28, 2024 at 11:05PM
Citi on the Bank of Japan meeting this week (October 30 – 31). The market view is for no change to policy at this meeting.

Citi, too, is tipping no policy change.

we share the widely held view that policy will be left unchanged

consensus is a rate hike in either December or January

Citi are forecasting December

we do not expect the BoJ to signal for it vigorously in October given uncertainty around the approaching US election and payroll data

BoJ will likely emphasize the continued trend of rate hikes while pointing to external uncertainty

—

I suspect the Japanese election result last weekend may shift views to January for the next BoJ rate hike soon enough.

This article was written by Eamonn Sheridan at www.forexlive.com.

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