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VIEW: Danske Bank Look For Rate Hike In Q223

BOJ

Danske Bank note that “Spring will be crunch time in Japan with the annual wage negotiations and a scheduled replacement of all three governors in BoJ. Based on Tuesday’s move, we think the probability of further moves next year has increased and we expect a move away from negative interest rates after a new Governor has been appointed, followed by a further loosening of the yield curve control. Specifically, we expect a policy rate hike to 0% in Q2 followed by a 25bp increase in the yield target to 0.25% and an increase in the fluctuation band from -0.25% to 0.75%.”

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