BOJ Governor Ueda Hints at October Rate Hike as Market Expectations Rise
Bank of Japan (BOJ) Governor Kazuo Ueda has shared insights from the latest tankan survey, indicating a higher likelihood of the central bank's economic and price forecasts materializing. Market expectations are rising for an interest rate hike in the stock market today.
Ueda acknowledged the market's 50% probability expectation for a rate increase this month, with some BOJ board members pushing for a 0.25 percentage point rise. This signals growing anticipation for an additional hike in the stock market this October.
The BOJ Governor expressed uncertainty about the impact of U.S. tariffs on the Japanese economy. Despite this, he does not believe the BOJ will fall behind the curve in its monetary policy. The September tankan survey revealed a slight improvement in business sentiment among large manufacturers in Japan.
Market participants anticipate an additional rate hike by the BOJ this month, with Ueda acknowledging these expectations. Despite uncertainty regarding the impact of U.S. tariffs, Ueda is confident the BOJ will maintain its policy pace in the stock market.
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