Kazuo Ueda releases a dovish stance, and both Bank of America and Nomura have postponed their expectations for the Bank of Japan to raise interest rates.
After the President of the Bank of Japan, Kazuo Ueda, expressed a cautious attitude towards interest rate cuts, Analysts from Bank of America and Nomura Holdings pushed back the expected timing of the Bank of Japan's next interest rate hike from January next year to March.
Japan's senior officials: The government is "alert" to the recent depreciation of the yen and will "intervene" when speculation is excessive.
Japan's Finance Minister Katsunobu Kato stated on Friday that the yen has begun to decline rapidly again, and the government is feeling "vigilant" about the recent Forex trends.
Bank of Japan Maintains Current Rate Target Amid Moderate Economic Recovery
AUD/JPY Falls Below 98.00 Following Stronger Inflation From Japan
Bank of America: Uchida's dovish comments suggest that the Bank of Japan is expected to raise interest rates in March, and the yen may fall to 160 against the dollar.
Economists and strategists at Bank of America pointed out in a report that, given Governor Ueda's dovish comments, the Bank of Japan may raise interest rates in March next year instead of January, and the dollar may rise to the level of 160 against the yen in the short term.
Japan's Inflation Could Gradually Slow in 2025 -- Market Talk