0658 GMT - The market was likely disappointed by the lack of detail regarding the Bank of Japan's stance about bond purchases, Joey Chew, Head of Asia FX Research at HSBC says, adding that HSBC expects the next rate hike to be in 3Q. The BOJ's latest outlook report was quite different from the January edition in several hawkish ways, he says. The BOJ expects underlying inflation to increase gradually over the next couple of years to reach a level consistent with its price stability target. Also, despite raising the inflation forecast, the BOJ sees upside risk for the current fiscal ending March 2025, a change from seeing downside risks in the past, he adds. (monica.gupta@wsj.com)
(END) Dow Jones Newswires
April 26, 2024 02:58 ET (06:58 GMT)
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