BOJ will keep current policy until at least July 2024, most economists say: Reuters poll

The Bank of Japan will start downscaling its massive monetary easing only in a year's time, the majority of economists said in a Reuters poll, as speculation for further policy shifts abated after a surprise yield control tweak last month.

its yield curve control scheme and allowed interest rates to rise more flexibly, a measure officially targeted to sustain easing but seen by markets as a prelude to dismantling decades of stimulus.

Takumi Tsunoda, senior economist at Shinkin Central Bank Research Institute, said the BOJ may keep the status quo until next summer because the outlook for Japan's wage trends in fiscal year 2024 will only come to light after spring.sustained wage hikes are the essential condition to achieve growth-driven inflation - and to normalise the BOJ's ultra-loose easing.

"The current YCC is an abstruse system ... Governor Ueda may be thinking yields can be more flexibly set by the market," said Hiroshi Namioka, chief strategist and fund manager at T&D Asset Management. "It'll be effectively dead or abolished in the near future."

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