BOJ statement imminent: Markets eagerly await comments from Governor Ueda

Japan’s 10-year government
bond yield rose on Tuesday ahead of the Bank of Japan statement due later:

• Bank of Japan policy meeting preview: 2024 could be the game changer

• Bank of Japan statement is due Tuesday – preview

• Japan’s economy minister will attend today’s Bank of Japan meeting

There is no firmly scheduled time for the announcement, expect it between 0230 and 0330 GMT (which is 2130 – 2230 US Eastern time). Bank of Japan Governor Ueda’s press conference will follow at 06030 GMT (this is scheduled).

The BOJ is widely expected to keep its short-term rate target at -0.1% and that for the 10-year government bond yield around 0%.

Markets are on the lookout for comments from Ueda. If he indicates he sees inflation becoming more sustainable and stable at 2% he it could set the stage for a policy move at the January 23 meeting

• Is the Bank of Japan planning to exit negative rates sooner than expected?

This article was written by Eamonn Sheridan at www.forexlive.com. Source