SMBC Nikko Securities: Bank of Japan March 30 Meeting Minutes Summary May Provide Clues for April Rate Hike

Gate News reports that on March 18, SMBC Nikko Securities economist said that Bank of Japan Governor Haruhiko Kuroda is expected to avoid promising a specific timetable for interest rate hikes at this Thursday’s press conference. However, if the summary of the meeting released on March 30 shows that policymakers support further tightening, investors may further price in the possibility of a rate hike in April. The market believes that a 1% policy rate (currently 0.75%) remains accommodative for the Bank of Japan, so even if the Middle East situation worsens and global risk aversion increases, it is unlikely to prevent a rate hike in April.

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