The bottom line of the assessment from UBS on the Bank of Japan policy meeting and lack of change is spot on, analysts saying its not a smart move to get too excited about the Bank of Japan taking action.
After two years of teasing from the BOJ one can only concur.
UBS says the BOJ was 'masterfully inactive' on policy on Tuesday. But, they add, a change to the bank's Yield Curve Control (YCC) is possible in Q1 of 2024, but only if higher wages come to fruition to support such a move.
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ICYM all the (in)action yesterday from the Bank:
- ForexLive Asia-Pacific FX news wrap: BOJ policy left unchanged, JPY weakened
- ForexLive European FX news wrap: Yen extends post-BOJ fall, dollar lower alongside yields
At least the yen didn't let us down:
