Ueda Faces BOJ Bets That Won’t Go Away at Debut Decision
- Swaptions signal a possible policy change in the coming months
- JPMorgan expects Ueda to adjust yield-curve control in June
Kazuo Ueda
Photographer: Kim Kyung-Hoon/Reuters/Bloomberg
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Speculators are getting ready to take on the Bank of Japan yet again as new governor Kazuo Ueda gears up for his first policy meeting next week.
Wagers are in place for the BOJ to adjust its stance, months after it doubled its yield cap to 0.5% in a surprise move that jolted global markets. Japan’s elevated inflation and the illiquidity of its bond market are fueling bets for a change despite Ueda’s insistence at his inaugural news conference that it’s “appropriate” to stand pat.