August 15, 2024 at 01:22AM
I posted earlier on the view from Nomura, looking for a December 2024 rate hike from the Bank of Japan, even if inflation doesn;t rise!
Nomura say around 150 is now the ceiling for USD/JPY. Forecast a BOJ rate hike in December
Snippet from Barclays, a contrasting view, saying the Bank needs to see higher inflation feeding through:
Its likely that the BoJ will need to wait until at least the December meeting
to confirm “that the next wave of service price markups is
reflected on the nationwide CPI data” … Barclays expect wage pressure will move inflation higher
next BoJ rate hike expected in January (Barclays were previously tipping April 2025)
Barclays says the Summary of July meeting shows some members of the Board are
biased against rate hikes
and even those supportive of further hikles are cautious
This article was written by Eamonn Sheridan at www.forexlive.com.