Data-Dependent BOJ Faces Delicate Balancing Act in 2025 -- Market Talk

Dow Jones12-19

1013 GMT - The BOJ faces a challenging balancing act in 2025, HSBC economists say, following the central bank's decision to stand pat while continuing to signal future rate hikes. Governor Ueda stated that more certainty on domestic wage and economic growth is needed before the next hike and highlighted uncertainty about the U.S. economy's trajectory. HSBC has pushed back its forecast for the next hike to January but notes that the BOJ must consider the risks of waiting for the "perfect" moment to tighten policy. With USD/JPY rising above 156 due to the Fed's rate cut and the BOJ's decision to hold, delaying action for too long is not desirable, says economist Jun Takazawa. Exchange-rate developments warrant close monitoring, especially as they now exert greater influence on the economy than in the past. (fabiana.negrinochoa@wsj.com)

(END) Dow Jones Newswires

December 19, 2024 05:13 ET (10:13 GMT)

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HSBC has pushed back its forecast for the next hike to January but notes that the BOJ must consider the risks of waiting for the \"perfect\" moment to tighten policy. With USD/JPY rising above 156 due to the Fed's rate cut and the BOJ's decision to hold, delaying action for too long is not desirable, says economist Jun Takazawa. Exchange-rate developments warrant close monitoring, especially as they now exert greater influence on the economy than in the past. 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