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Feb 02 - 10:55 AM

JPY: Wakatabe Rules Out Move At Next BoJ Meeting; We See No Further YCC Adjustments In 2023 - Credit Agricole

By eFXdata  —  Feb 02 - 09:30 AM

Credit Agricole CIB Research discusses the expectations for the next BoJ meeting in March.

"BoJ Deputy Governor and aspiring Governor Masazumi Wakatabe has ruled out a policy change at the BoJ’s March monetary policy meeting. Investors may have been speculating that since March will be Governor Haruhiko Kuroda’s last meeting, the BoJ could adjust policy further. Our economists remain of the view that there will be no further adjustments in YCC in 2023," CACIB notes. 

"Wakatabe also suggested he is against another widening in the 10Y JGB yield target in the near term as it will take time to assess the impact of the recent widening on JGB market functioning and that another widening would further lessen the impact of the current easing," CACIB adds. 

Crédit Agricole Research/Market Commentary


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