With this year’s Shunto resulting in larger pay hikes than anyone had anticipated, we now expect the Bank of Japan to end both negative interest rates and Yield Curve Control at the upcoming meeting on 19th March. However, we still don’t think that price pressures are strong enough to warrant further policy tightening over the coming months.
We’ll be discussing the outlook for inflation, monetary policy and the implications of higher Japanese rates for domestic and global financial markets in a 20-minute online briefing at 8am GMT/4pm SGT on 19th March. (Register here.)
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