Central Banks
BOJ Watchers See Earlier Policy Shift After December’s Surprise
- Hold expected next week, but 38% expect move in April or June
- Poll shows 76% view wider yield range as step to normalization
Bank of Japan headquarters in Tokyo.
Photographer: Noriko Hayashi/BloombergThis article is for subscribers only.
Bank of Japan watchers see a policy shift coming much sooner than previously thought, following December’s yield band adjustments that rocked global financial markets.
While a survey of 43 economists showed all but one predicting the central bank to leave policy unchanged next week, some 38% of respondents now forecast moves either in April, when a new governor takes the helm, or in June. That’s a jump from 15% in last month’s poll.