ING with an ‘in a nutshell’ preview of the Bank of Japan statement due on Friday, 22 September 2023:
- the BoJ is likely to stay pat
- could however probably send a subtle hawkish message to the market after higher-than-expected inflation and a weak JPY, combined with rising global oil prices, pushed inflation up further.
I agree, while it seems unlikely that Bank of Japan Governor Ueda will pull the trigger on a policy tighten ing some sort of less dovish messaging from him would be welcomed by markets.
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The BOJ don’t schedule a specific time for its statement. Expect it in the 0230 to 0330 GMT time window. This is 10.30 to 11.30 pm US Eastern time.
BoJ