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January 18, 2024
Japan: 10yr JGB Yields set to Rise Moderately
January 18, 2024 10:15 AM UTC
The more subdued profile of Japanese wages, plus a delay in the 1st BOJ hike, has prompted us to lower the forecast of a rise in 10yr JGB yields in 2024 – though we still see a rise above 1% (Figure 1). As BOJ tightening stops, we see 10yr JGB yields falling back again in 2025.
January 15, 2024
BoJ: The Pace of Exit
January 15, 2024 5:41 AM UTC
The BoJ has kicked the can down to the spring wage negotiation before another step in monetary policy. While current inflation forecast has exceeded BoJ's 2% target in all three items of headline, ex fresh food and ex fresh food & energy, the wage growth did not reach a "sustainable" level, which Ue
