On Wednesday morning, the Bank of Japan (BoJ) delivered a hawkish surprise.
On Wednesday morning, the Bank of Japan delivered a hawkish surprise. In addition to the actual rate hike, it was even made clear that further rate hikes could follow if the BoJ's new forecasts materialise.
” “The officials are assuming that inflationary pressure on the core rate will pick up in the coming months. In order to achieve this forecast, rates would have to be roughly in line with the inflation target for the next 9 months. This is not impossible; other central banks have made more unrealistic forecasts in the past. However, it would be well above the average of the 2010s, a lot would have to go right for this to happen.
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