News

Jinse Finance reported, citing sources, that the Bank of Japan is preparing the market for a possible interest rate hike as early as next month. As concerns over the sharp depreciation of the yen resurface and political pressure to maintain low interest rates gradually fades, the Bank of Japan has resumed its previous hawkish rhetoric. Two people familiar with the Bank of Japan's thinking said that the shift in the central bank's statements over the past week has moved the focus from earlier concerns about the US economy back to the inflation risks caused by the weakening yen, aiming to remind the market that a rate hike in December is still possible. Japanese Prime Minister Sanae Takaichi and Bank of Japan Governor Kazuo Ueda held an important meeting last week, which appears to have eliminated political opposition from the new government to a rate hike. However, sources pointed out that whether to raise rates in December or postpone to January remains a delicate choice, as the Federal Reserve's rate decision—which will be announced a week before the Bank of Japan's meeting—will affect the yen's movement. (Golden Ten Data)

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