By Leika Kihara TOKYO (Reuters) - The Bank of Japan will likely keep interest rates ultra-low on Friday and reassure markets that monetary stimulus ...
By Leika Kihara TOKYO - The Bank of Japan will likely keep interest rates ultra-low on Friday and reassure markets that monetary stimulus will stay, at least for now, as China's economicBy Leika Kihara
With rising raw material costs also keeping Japan's inflation above their 2% target for more than a year, BOJ policymakers are increasingly talking up the need to shift away from the massive stimulus of the past decade. "Uncertainty over the global outlook is very high, posing a huge risk to Japan's economy," one of the sources said.
It is also seen leaving unchanged guidance pledging to keep intact its bond yield control policy until inflation stably hits the bank's 2% target, the sources said. That would be much sooner than estimates in a Reuters poll in August, when nearly 60% of analysts expected an end to negative rates to come in"2025 or later."
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Japan's central bank will keep stimulus for now as risks growThe Bank of Japan will likely keep interest rates ultra-low on Friday and reassure markets that monetary stimulus will stay, at least for now, as China's economic woes and the global fallout from U.S. interest rates cloud the outlook. The accommodative policy contrasts with that of the U.S. and European central banks, which have hiked rates to record levels and signalled that borrowing costs will stay high to combat sticky inflation. With rising raw material costs also keeping Japan's inflation above their 2% target for more than a year, BOJ policymakers are increasingly talking up the need to shift away from the massive stimulus of the past decade.
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Marketmind: Clarion call for Bank of Japan clarityThe Bank of Japan's policy meeting on Friday is the highlight of the week in Asia, with speculation rising that policymakers may be much closer to moving away from ultra-loose policy and negative interest rates than previously thought. Rate decisions and guidance from Taiwan, the Philippines and Indonesia on Thursday will also be closely scrutinized, while the latest inflation figures from Japan, Malaysia and Hong Kong are on tap this week too. Wall Street's gloomy end to last week - the three main indexes fell between 0.83% and 1.56% on Friday - will cast a shadow over the Asia open on Monday, even though Asian markets ended the week on a far more positive note.
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