Bank of Japan to hike rates in January despite (because of?) politics

ICYMI, from the Bank of Japan on Thursday:

I posted this earlier on what’s holding Ueda back:

Wells Fargo don’t think he’ll be constrained for too long, not looking for a December hike though:

  • an environment of gradually improving economic growth, inflation that is expected to remain around target in medium term, but some degree of political uncertainty
  • WF project that the Bank of Japan will proceed with further rate hikes at a somewhat gradual pace
  • WF remain comfortable with forecast for policy rate hikes by 25 bps at each of its January 2025 and April 2025 meetings,

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