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BOJ: MNI BoJ Review- Dec 2024: Uncertainty On Next Hike Timing

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  • The BoJ left rates on hold at the December meeting, which was expected by the economic consensus and what was priced by markets.
  • The central bank highlighted high uncertainties around the outlook, along with gradual inflation trends, as justification for holding rates steady. BoJ Governor Ueda struck a dovish tone at the press conference, signalling no rush to adjust policy further.
  • Watch points for the BoJ are wage trends in 2025 and the US economic and policy outlook.
  • There was one dissent to the BOJ's decision, with board member Tamura in favour of a 25bps hike at the policy meeting.
  • See this link: 
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  • The BoJ left rates on hold at the December meeting, which was expected by the economic consensus and what was priced by markets.
  • The central bank highlighted high uncertainties around the outlook, along with gradual inflation trends, as justification for holding rates steady. BoJ Governor Ueda struck a dovish tone at the press conference, signalling no rush to adjust policy further.
  • Watch points for the BoJ are wage trends in 2025 and the US economic and policy outlook.
  • There was one dissent to the BOJ's decision, with board member Tamura in favour of a 25bps hike at the policy meeting.
  • See this link: