Central Banks
BOJ Keeps Traders Guessing on Negative Rate as Yen Rally Stalls
- Ueda says little data before January but doesn’t rule out hike
- Cautions that BOJ unlikely to give warning right before shift
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Bank of Japan Governor Kazuo Ueda kept investors in the dark on when he’ll call time on the world’s last negative interest rate, following a stand-pat policy decision that pared some of the yen’s recent gains.
Ueda appeared determined to keep his options open at a press briefing after the central bank’s two-day meeting. He didn’t rule out policy normalization at any of the gatherings in coming months, while insisting he first needs to see more evidence that the BOJ will achieve its price stability target.