BOJ’s Nakamura: I want to make decision based on facts by scrutinising data a bit more

December 05, 2024 at 06:22AM

I voted against March, July decisions not because I was opposed to raising rates

But because such decisions ought to be made after spending sufficient time confirming the data

He’s really going out of his way to spell out what his supposed more dovish policy stance means today. If that is any indication, he seems to be wanting to say that it doesn’t mean that he will dissent the move in December. But we’ll see I guess. For some context, Nakamura and Asahi were the two dissenters for both the March and July rate hikes this year. Nakamura’s reasoning for July was that:

“The Bank should decide on changing
the guideline for money market operations after assessing sources such as the Financial Statements
Statistics of Corporations by Industry at the next MPM, and that therefore it was desirable to only
indicate this approach at this MPM.”

This article was written by Justin Low at www.forexlive.com.