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Recent discussions among Bank of Japan (BOJ) officials and statements from BOJ board member Nakagawa, as reported by JIJI and BBG, indicate a growing confidence in Japan's economic recovery and wage growth, hinting at a potential shift in the country's long-standing negative interest rate policy by March or April. Some attendees of a BOJ policy meeting suggested that lifting the negative interest rate is reasonable, reflecting differing views on the timing of such a rate adjustment. The increasing confidence is supported by stronger wage growth, with January wage growth reported to be the highest since June 2023. Nakagawa highlighted the importance of consumer inflation not leading Japan back to deflation and mentioned the need to discuss the fate of other unconventional monetary easing tools in the context of potentially ending the negative rate policy. The yen has strengthened against the dollar by as much as 0.5%, reaching a one-month high, impacting Tokyo stocks and Japanese bank shares.
Yen Gains With Bank Stocks As Wages, BoJ Remarks Boost Hike Bets - BBG https://t.co/QFKuJ8mHjt
BOJ Steadily Moving toward 2๏ผ Price Target: Policymaker https://t.co/oQS9OAElp7
Theย yenย climbs to a one-month high on speculation the BOJ will end negative interest rates this month https://t.co/iBAt7exybt https://t.co/zwFXPNirw2
Japanโs Nikkei Ends Sharply Lower as Yen Gains on Bets on BOJโs Policy Tweak https://t.co/C0xOnNcCpr
Tokyo stocks slide as yen rises on BOJ policy tweak speculation https://t.co/466px50uXW
BoJโs Ueda: Extent Of Rate Hikes Would Be Determined By Situation At The Time In Case Of NIRP-End
The yen is climbing on expectations that the BOJ will hike rates https://t.co/tmbFATAhSj
๐ด BOJ GOVERNOR UEDA: RATE HIKES DEPENDENT ON FUTURE SITUATION IF NEGATIVE RATES REMOVED
๐ด BOJ'S NAKAGAWA TO REVIEW DATA AHEAD OF POLICY MEETING IN 10 DAYS
๐ด BOJ'S NAKAGAWA: ENDING NEGATIVE RATES NOT SOLELY BASED ON WAGE TALKS OUTCOMES
๐ด BOJ'S NAKAGAWA TO ASSESS AND DISCUSS POLICY TOOLS AT UPCOMING MEETING
BoJโs Ueda: โPossibleโ To Seek Stimulus- Exit While Aiming For 2% Inflation Target
๐ด BOJ GOVERNOR UEDA TO CONSIDER ROLLING BACK MASSIVE STIMULUS PROGRAMME ONCE POSITIVE CYCLE OF WAGES AND INFLATION IS CONFIRMED
BoJ's Nakagawa: No Pre-set Idea In Mind On Whether To End YCC In Tandem With NIRP-Exit
๐ด GOVERNOR UEDA OF BOJ: POSSIBLE TO EXIT STIMULUS WHILE AIMING FOR 2% INFLATION TARGET
๐ด NAKAGAWA OF BOJ: NO PRESET IDEA ON ENDING YCC WITH EXIT FROM NEGATIVE RATES
๐ด BOJ'S NAKAGAWA: NO NEED TO WAIT FOR ALL SMALL, MID-SIZED FIRMS' WAGE TALKS OUTCOME IN DECIDING WHEN TO END NEGATIVE RATES
BoJโs Nakagawa: Should Debate Fate Of Other Unconventional Monetary Easing Tools In Place When Debating Ending NIRP
๐ด NAKAGAWA OF BOJ: CONSUMPTION DEVELOPMENTS KEY IN DECIDING END OF NEGATIVE RATES
๐ด BOJ'S NAKAGAWA: FATE OF OTHER UNCONVENTIONAL MONETARY EASING TOOLS SHOULD BE DEBATED WHEN CONSIDERING ENDING NEGATIVE RATE
BoJ's Nakagawa: Will Take Until Autumn And Beyond If We Waited Until Outcome Of Smaller Firms' Wage Negotiations
๐ด BOJ'S NAKAGAWA TO SCRUTINIZE DURATION OF DATA ANALYSIS FOR POLICY DECISION
Bank of Japan board member sees 'steady progress' toward inflation target https://t.co/Rv2Ko2PviE
๐ด BOJ'S NAKAGAWA NOTES WEAK CONSUMPTION IN NOMINAL AND REAL TERMS, WARRANTS ATTENTION
Japanโs Nikkei Slips from Record High as Yen Gains on Bets on BOJโs Policy Tweak https://t.co/C0xOnNcCpr
BOJ board member Nakagawa signals conviction over price goal https://t.co/8xSPfZJoBX https://t.co/H0zz1SRj51
Tokyo stocks fall in morning as initial gains pared on stronger yen https://t.co/nJPmvmbqqw
BoJ Board Member Nakagawa Signals Conviction Over Price Goal Achievement - @YahooFinance https://t.co/4StNtxxLbu
The yen climbed to a one-month high, Japanese bank shares rose and government bonds dropped on speculation the central bank will raise interest rates this month https://t.co/uKGryioFoQ
Yen gains on chance of imminent BOJ pivot; dollar broadly lower https://t.co/fVFQI1Jagc https://t.co/lu9DiNENYU
Thinking about the BOJ. Bloomie article out this AM saying January wage growth beat expectations and highest since Jun23. Shunto (the annual wage negotiations between unions and employers) results should be out next week at the top level, but a bunch of unions will update today https://t.co/ca2kwC1a02
The yen extended gains against the dollar to as much as 0.5% on news that the Bank of Japan has tacit approval from some government officials to end its negative interest rate policy in the near term: BBG
๐ด BOJ'S NAKAGAWA SAYS RISING WAGES WILL LIKELY SUPPORT CONSUMER SENTIMENT, BUT THERE IS A RISK THAT REAL INCOME COULD BE LOWER THAN EXPECTED, IMPACTING DEMAND, THE ECONOMY, AND PRICES.
๐ด NAKAGAWA OF BOJ: CONSUMER INFLATION MUST NOT SOUR AND PULL JAPAN BACK TO DEFLATION
๐ด NAKAGAWA OF BOJ: JAPAN'S ECONOMY EXPECTED TO KEEP RECOVERING MODERATELY
๐ด BOJ'S NAKAGAWA SEES SOME WEAK SIGNS IN CONSUMPTION DATA BUT NO SIGNIFICANT CHANGE TO TREND OF MODERATE INCREASE
๐ด BOJ'S NAKAGAWA TO DECIDE WHETHER TO ADJUST YCC, RISKY ASSET BUYING AND OTHER POLICIES IF SUSTAINED ACHIEVEMENT OF PRICE GOAL IS JUDGED
๐ด NAKAGAWA FROM BOJ: GATHERING INFORMATION TO MAKE MONETARY POLICY DECISION AMID RISKS AND UNCERTAINTIES
๐ด BOJ BOARD MEMBER NAKAGAWA: JAPAN'S ECONOMY PROGRESSING STEADILY TOWARDS MEETING PRICE TARGET
BoJ Is Said To Gain Confidence In Wage Growth Before Rate Call - BBG https://t.co/eq6mnOY6Oa
Bank of Japan officials are getting more confident over the strength of wage growth, sources say, a development that supports the view among traders and economists that the BOJ will scrap its negative interest rate in March or April https://t.co/ZqQeL1oHI7
๐ด BOJ OFFICIALS ARE SAID TO HAVE DIFFERING VIEWS ON RATE TIMING.
๐ด BOJ IS SAID TO GET MORE CONFIDENT ABOUT STRONGER WAGE GROWTH.
๐ด SOME BOJ POLICING MEETING ATTENDEES ARE LIKELY TO SAY THAT LIFTING THE NEGATIVE INTEREST RATE IS REASONABLE - JIJI.