The Bank of Japan (BoJ) will announce its monetary policy decision on Tuesday, pretty much at the same time that the Reserve Bank of Australia (RBA) will do the same.
The Bank of Japan could deliver the first rate hike since 2007. Japanese Unions clocked the largest wage increase in over three decades. BoJ’s Governor Kazuo Ueda linked monetary tightening with higher wages. USD/JPY could collapse towards 146.48 on a hawkish decision. The Bank of Japan will announce its monetary policy decision on Tuesday, pretty much at the same time that the Reserve Bank of Australia will do the same.
A more conservative outlook suggests the BoJ will pave the way for a rate hike in April while deciding on a gradual ending to the YCC. One more factor is whether the central bank anticipates additional rate hikes in the months to come. Policymakers may well abandon the ultra-loose policy next Tuesday but cool down hopes for the beginning of a tightening cycle at the same time. Generally speaking, a hawkish announcement tends to boost the local currency.
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