We’re all waiting eagerly for the upcoming press conference from Bank of Japan Governor Ueda, scheduled for 06:30 GMT, which is 01:30 Eastern time if you’re tuning in from the U.S. at night.
Governor Ueda is anticipated to signal additional interest rate hikes on the horizon, with some expecting him to adopt a more hawkish tone than usual.
Today’s rate hike by the Bank of Japan was primarily driven by two previously stated reasons: the continuous signs of wage growth and the absence of market upheaval following Trump’s inauguration and his flurry of executive orders.
The Bank of Japan is also keeping a close eye on the weakening yen, as they hope to prevent further depreciation. However, if the Federal Reserve opts to maintain a prolonged pause, the BoJ might not achieve this aim.
Stay tuned for further developments.
