According to Jin10, T. Rowe Price portfolio manager Vincent Chung said the Bank of Japan is expected to leave interest rates unchanged on Friday, while potentially signaling a quicker pace of rate increases. He said that if the BOJ accelerates its policy normalization process, there could still be two more rate hikes this year. Chung also said a clear and sustained appreciation in the yen would require a combination of faster monetary tightening, lower energy prices and more coordinated foreign-exchange intervention measures. The remarks focus on the central bank’s next policy signal rather than an immediate rate move, and point to the conditions Chung believes would be needed for the yen to strengthen in a durable way.
ChainCatcher reported, citing Jin10, that T. Rowe Price portfolio manager Vincent Chung said the Bank of Japan is expected to keep interest rates unchanged on Friday, but may signal a faster pace of rate hikes.
Chung said that if the BOJ speeds up its policy normalization process, there could be two more rate increases this year. He added that for the yen to post a clear and sustained appreciation, faster monetary tightening, lower energy prices and more coordinated foreign-exchange intervention would need to work together.
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