- BOJ likely to keep its forecasts for 2024 and 2025 roughly unchanged
- That is a sign that it is not yet convinced that 2% inflation can be achieved sustainably
- There is positive signs on inflation and wages
- But not sure if that is enough to make the BOJ turn more hawkish on policy
Well, Japanese yen bulls have grown increasingly frustrated ever since Ueda took over at the helm of the BOJ in April. So, to kick the can further down the road will just continue to put more scrutiny and pressure on the currency surely as the market narrative elsewhere is mostly higher rates for longer.