BOJ to Keep Tightening Despite Political Obstacles -- Market Talk

Dow Jones10-31

0636 GMT - Election-related uncertainty has complicated the BOJ's policy path, but Moody's Analytics expects monetary policy to tighten regardless. Japan's elections dealt a blow to the ruling LDP-led coalition. PM Ishiba is looking to stay in office with opposition support but there's doubt on the longevity of his government, economist Stefan Angrick says. Some members of the LDP and opposition oppose rate hikes but Angrick expects those voices to fade if the yen tumbles further. "With the yen weakening, we expect another rate hike before the end of the year." The outcome of 2025 wage negotiations will be key for policy decisions next year. "Only if pay gains stick will the BoJ be able to continue raising rates in the new year," he says. (fabiana.negrinochoa@wsj.com)

(END) Dow Jones Newswires

October 31, 2024 02:36 ET (06:36 GMT)

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