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JPY/HKD (JPYHKD) News
Yomiuri: Japan's Basic Policy Reviewed to Ease Market 'Shock'
Yen weakness intensifies inflation risks, and the Bank of Japan is open to accelerating its pace of rate hikes.
Gelonghui, July 22 — According to informed sources, Bank of Japan officials are open to accelerating the pace of interest rate hikes—potentially faster than economists widely anticipate—as persistent yen weakness exacerbates upside inflation risks. The sources indicated that while officials are aware many Bank of Japan watchers expect rate hikes roughly every six months, they are also willing to act sooner if necessary, as there is no pre-set path for tightening. Markets broadly expect the central bank to hold policy steady at its July 31 board meeting. The bank previously raised its policy rate to 1% last month, the highest level in 31 years.
Express News | Sources: The Bank of Japan plans to keep interest rates unchanged in July but will maintain its policy guidance, pledging to continue advancing its rate-hike trajectory.
Express News | Allianz Chief Economist: If Japan's investment portfolio shifts, reducing overseas assets will become the focal point of global markets.
Japan’s ‘Truss Moment’ at hand? JGB yields surge toward a 30-year high, with Societe Generale warning: a crisis capable of upending global assets is brewing
Societe Generale has warned that the current turmoil in Japan's bond market bears a striking resemblance to the 'mini-budget' crisis triggered by former UK Prime Minister Liz Truss in 2022, suggesting a financial storm capable of disrupting global asset valuations may be brewing.
Former Bank of Japan Official: Pace of Rate Hikes to Accelerate; 2% May Not Be the End Point
A prominent Japanese expert on inflation noted that the central bank's interest rate hike path could be more aggressive than market expectations. As inflation risks shift from 'insufficient' to 'overheating,' the Bank of Japan may be forced to adopt a proactive defensive stance, pushing the terminal rate above 2%.