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VIEW: Barclays: Confirmation Hearing: Dovish On The Surface

BOJ

In light of today’s nomination hearing Barclays note “Overall, Ueda appeared to express a stance that emphasized continuity around current monetary easing, while refraining from any clear response to the parts directly related to near-term policy such as the prospect of a comprehensive assessment and YCC revision. In this sense, there may be little reason for the market to change its expectations about the direction of monetary policy. We retain our outlook for the BoJ to reach a decision at the April monetary policy meeting (MPM) to start revising YCC with consideration to its side effects.”

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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