Ueda's interview response flagged a possible end to negative rates from the Bank as well as a possible date for the change.
The massive change of tone from the Governor rocked USD/JPY to its biggest drop in months. Summary and links here ICYMI:
Deutsche Bank are expecting more detailed information from the Bank of Japan meeting next week (statement will be on September 22, Japan time, sometime around 0300 GMT, which is 11pm on the 21st, US Eastern time). DD have switched up their forecasts also:
- now expect BOJ Yield Curve Control (YCC) to end in October (DB were previously forecasting this for April 2024)
- and expect an end to the BOJ's negative interest rate policy in January 2024 (previously December 2024)
Bank of Japan meeting dates for the balance of this year:
