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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI BoJ Preview - January 2022: No Change, Even As Noise Increases
EXECUTIVE SUMMARY
- The BoJ is not expected to alter any of its monetary policy parameters come the end of its first meeting of 2022.
- Widespread expectations are for a mark higher in the Bank’s FY22 inflation projections, alongside an upgrade when it comes to the Bank’s GDP growth view covering the same period.
- A recent sources piece from Reuters has triggered a little more interest in the event/BoJ matters, suggesting that “Bank of Japan policymakers are debating how soon they can start telegraphing an eventual interest rate hike, which could come even before inflation hits the Bank's 2% target, emboldened by broadening price rises and a more hawkish Federal Reserve.”
- In sum, the potential/likely economic forecast upgrades and any communique surrounding the recent JPY dynamic shouldn’t provide anything in the way of game changing takeaways post-meeting. The recent Reuters sources piece, flagged earlier, indicates the that the BoJ has its eye on the longer-term monetary policy dynamic, but we do not expect this to have any short-term impact on policy/BoJ monetary policy decisions in early 2022.
Click to view the full preview: BOJ Preview - January 2022.pdf
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.