Traders Pile Into Bets That End of Negative BOJ Rate Is Near
- Swaps show as much as an almost 45% chance of December tweak
- Deputy Himino’s remarks spur talk of ‘live’ December meeting
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Traders are rapidly increasing bets that the Bank of Japan will scrap the world’s last negative interest-rate regime as soon as this month, after the central bank’s leaders indicated they could be preparing a shift in policy.
The comments from BOJ Governor Kazuo Ueda and one of his deputies jolted financial markets in Tokyo and beyond, fueling a sharp strengthening of the yen and the biggest move in Japanese bond yields in a year.