More than 80% of economists polled by Reuters expect the Japanese central bank to say “sayonara” to its outlier policy by the end of 2024, with one-fifth saying the pivotal move could happen as early as January.
It will be a communications challenge for the BOJ chief, who is expected to attempt a delicate balancing act: How to keep markets on their toes for the first rate hike in more than a decade by one of the world’s most dovish central banks, without stirring up too much excitement.
The yen gave up some ground against the greenback, briefly slipping as low as 143.78 per dollar in the wake of the decision, while Japan’s Nikkei rallied. The benchmark 10-year Japanese government bond yield edged down to 0.650%.
In the meantime, MSCI’s Asia ex-Japan index weakened slightly.
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/cloudfront-us-east-2.images.arcpublishing.com/reuters/WLSIS3DFLBKNNEBN7WLXJLVJ7A.jpg "BOJ gives the gift of predictability 38")
