The Bank of Japan is expected to set its monetary policy on Tuesday as Governor Kazuo Ueda continues to move slowly towards ending the world’s last negative interest rate system.
“The Japanese authorities are not in a rush to act while awaiting strong evidence of sustainable inflation,” people familiar with the matter told “Bloomberg.”
Therefore, Bank of Japan observers will look at Ueda’s statement and comments for hints about expectations for wage increases and prospects for wage improvements that stimulate demand-led spending and inflation.
Any upward move will support growing expectations that the Bank of Japan will raise interest rates no later than April, as two-thirds of the economists surveyed by Bloomberg predicted earlier this month.
The Bank of Japan’s mission may seem a little awkward after the Fed sent signs of a rate cut in 2024.
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