JN BOJ Policy Rate
It's an important driver of commodity demand - lower interest rates decrease carrying costs. Reduced costs to store goods will spur companies to make investments in raw materials, leading to higher inventory levels;
Source does not give an exact release time - this event will be listed as 'Tentative' until the rate is announced. This rate is currently the BOJ's main operating target. Source first released in Jan 2016;
- JN BOJ Policy Rate Graph
- History
Expected Impact / Date | Actual | Forecast | Previous |
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Jun 13, 2024 | <0.10% | <0.10% | <0.10% |
Apr 25, 2024 | <0.10% | <0.10% | <0.10% |
Mar 18, 2024 | <0.10% | -0.10% | -0.10% |
Jan 22, 2024 | -0.10% | -0.10% | -0.10% |
Dec 18, 2023 | -0.10% | -0.10% | -0.10% |
Oct 30, 2023 | -0.10% | -0.10% | -0.10% |
Sep 21, 2023 | -0.10% | -0.10% | -0.10% |
Jul 27, 2023 | -0.10% | -0.10% | -0.10% |
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- JN BOJ Policy Rate News
Bank of Japan Governor Ueda: • Depending on economic, price and financial data and information available at the time, there is chance we could raise interest rates at July meeting. • Decision on BOJ's bond tapering and short-term rate target are two different things. Earlier from Ueda: • Bank of Japan Gov Ueda expects strengthening in Japan wage-price cycle - higher inflation.
post: BOJ TO OUTLINE BOND BUYING PLAN AT UPCOMING MEETING post: BOJ CUTS BOND BUYING TO ALLOW YIELDS TO FORM FREELY post: BOJ: PRIVATE CONSUMPTION HAS BEEN RESILIENT ALTHOUGH IMPACT OF PRICE RISES HAS REMAINED AND AUTO SALES HAVE CONTINUED TO BE PUSHED DOWN post: BOJ NO HAWKISH SIGNALS, NO SLOW DOWN OF BOND BUYING, NO RATE HIKE SIGNALS AND STICKING TO STIMULUS YEN STILL DEADBank of Japan decides to cut back on bond purchases The Bank of Japan on Friday decided in principle to reduce its purchases of Japanese government bonds, taking another step toward policy normalization following its first rate hike in 17 years in March. The central bank says it will decide on the detailed reducing strategy in the next meeting. Until then, it will continue purchases at the current pace, which is at around 6 trillion yen ($38.1 billion) per month. The move marks another move toward policy normalization that started on March 19, when the central bank decided to end its zero interest rate policy, new equity purchases and yield curve controls but stopped short of reducing the amount of its bond purchases. The shift illustrates the growing alarm among Japanese policymakers about the weak yen, exacerbated by the bank's supereasy monetary policy. Japan's currency, which has fallen 27% against the dollar since the beginning of 2022, plumbed a 34-year low of 160 to the greenback in April. After a two-day policy meeting, the BOJ decided to leave other measures unchanged, including its policy interest rate -- an uncollateralized overnight call rate -- between 0% and 0.1%. By cutting back on bond purchases, the BOJ will effectively shrink its JGB holdings and move into a quantitative tightening (QT) mode, a significant a
At the Monetary Policy Meeting (MPM) held today, the Policy Board of the Bank of Japan decided, by a unanimous vote, to set the following guideline for money market operations for the intermeeting period: The Bank will encourage the uncollateralized overnight call to remain at around 0 to 0.1 percent. Regarding the purchase of Japanese government bonds (JGBs), CP, and corporate bonds for the intermeeting period, the Bank will conduct the purchase in accordance with the decisions made at the March 2024 MPM. The Bank decided, by an 8-1 majority vote, that it would reduce its purchase amount of JGBs thereafter to ensure that long-term interest rates would be formed more freely in financial markets.Holding the "Bond Market Group" Meetings In accordance with the decision at the Monetary Policy Meeting today, the Financial Markets Department of the Bank of Japan will hold the "Bond Market Group" meetings in the following manner. 1. Date To be announced. 2. Form of the Meetings: The Bank will hold a meeting with commercial banks group, securities firms group and buy-side group, respectively. 3. Place: The Head Office of the Bank of Japan. 4. Participants: - Persons in charge of bond market issues in financial institutions including those who participate in the "Bond Market Survey". - Director-General of the Financial Markets Department, Head post: BOJ: WILL CONDUCT JGB PURCHASES IN ACCORDANCE WITH DECISION MADE AT MARCH POLICY MEETING post: BOJ TO DECREASE GOVERNMENT BOND PURCHASES post: JAPAN'S ECONOMY SEES MODERATE RECOVERY WITH SOME WEAKNESS OBSERVED: BOJ
The Bank of Japan is likely to keep interest rates ultra-low on Friday but consider whether to start reducing its huge balance sheet in a slow but steady retreat from its massive monetary stimulus. However, the normalisation of Japan's still-loose monetary policy is clouded by weak consumption and doubts over the BOJ's view that robust domestic demand will keep inflation on track to durably hit its 2 per cent target. Receding prospects of steady U.S. interest rate cuts may also keep the yen weak against the dollar, complicating the ...
The Bank of Japan is expected to keep interest rates steady on this week and consider whether to offer clearer guidance on how it plans to reduce its huge balance sheet, in a slow but steady retreat from its massive monetary stimulus. Policymakers may also debate recent weak signs in consumption, as they scrutinise whether Japan is making progress toward durably hitting their 2 per cent inflation goal - a prerequisite for lifting interest rates from current near-zero levels. Consumer sentiment soured for two straight months in May ...
The market got caught leaning the wrong way. The weakness in April's high-frequency US data encouraged participants to push the US two-year yield to its recent floor near 4.70% and took the 10-year yield to two-month lows, slightly above 4.25%. The Dollar Index was driven below the uptrend line drawn off the December 2023 and March and May 2024 lows. We have argued that while the US economy is slowing, the April data seemed to overstate the case, and the May jobs data will likely set the broad tone of other real sector data. The ...
US CPI data and Fed to determine the dollar’s fate - Will the BoJ signal that another rate hike is looming? - Pound traders await UK employment and GDP numbers - RBA hike bets shrink ahead of AU jobs and China CPI data
More than a half of surveyed Bank of Japan watchers forecast the central bank will decide to trim its government bond buying when authorities meet next week, with a growing number also looking ahead to a rate hike in July. Some 54% of 50 economists said the bank will slow the pace of bond buying from around ¥6 trillion per month at the Policy Board gathering ending on June 14, according to a Bloomberg survey. About 70% see the possibility of such action rising due to recent weakness of the yen. As for the timing of the bank’s next ...
Upcoming release on Jul 30, 2024 |
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Released on Jun 13, 2024 |
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