[Singapore 2nd Reuters]-The Bank of Japan emphasized that interest rates were raised to the highest level since the 2008 World Financial Crisis, and that inflation would be stably maintained by the rise of wages by rising wages.
The Board of Directors has decided to raise the BOJ's short -term policy interest rate from 0.25 % to 0.5 % with an 8 -to -one vote. Director Toyoaki Nakamura opposed the decision.
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Naoya Hasegawa, Oka San Securities (Tokyo) Chief Bond Strategist
“This decision was consistent with our expectations. We are waiting for the comments of the BOJ Governor of Ueda (Kazuo) at a press conference after the meeting. We are more likely to raise interest rate than the BOJ raised at this meeting. The market wants to know the prospects of the route on the route. “The Bank of Japan is currently expected to raise interests every six months, so we want to know Mr. Ueda's views. “
Matt Simpson, City Index, Brisbane, Senior Market Analyst
“Interest rising may have been expected, but it has been felt for a long time, and there is no significant downward revision in the economic outlook. It may result in a further 25 bp rate hike by the end of the year. The interest rate will be unchanged. ” “
Takahiro Otsuka, Mitsubishi UFJ Morgan Stanley Securities, Senior Bond Strategist (Tokyo)
“The result was as expected, but it seems that the BOJ raised the prices for prices. 。
Keylan Williams, London's Intertouch Capital Market Asia FX Officer
“This statement is like a Roleshach test, and the hawks have a repetition that prices are biased upward, and if the economy progresses along the outlook, the BOJ will continue to raise interest rates. On the other hand. The pigeons are sticking to this policy. ” ”
“The price movement of the circle throughout the day will depend on what kind of tone will be used by the Governor of the Bank of Japan at a press conference.”
Joseph Capulso, Bank of Australia, International Sustainable Economic Director, Sydney
“They have given a lot of suggestions about the possibility of raising the media, and they will probably be raised this year as well. We believe they will probably raise it twice this year, but they will wait for a while until interest rate hikes. We think that we will probably make an interest rate hike again in the middle of this year because we may decide. ”
Tom Nakamura, currency strategist, AGF Investment Corporate Bonds Division (Toronto)
“As expected, as expected, it rose 25 basic points to 0.5 %, but inflation prospects rose on both headline and core. I think there was a risk that the BOJ's evaluation would be more pigeon. It will support the high expectations of the market, “he plans to raise 25bps at an additional interest rate within the year.
“Market reactions should be neutral, perhaps a little bullish for the yen, and the yield of Japanese government bonds will increase slightly. Ueda's press conference will be the key … and recognized neutral interest rates. In terms of what it will affect pace and range, “about future policy changes. “
Matsusawa Naoka, Nomura Securities Chief Macrostratist, Tokyo
“Their logic has not changed. It's still far from neutral, so it's natural to adjust. In a sense, it's not always tightening, but rather relaxing.”
“Unless the BOJ changes the logic of interest rate hikes or raises the neutral point (about 1 %), there is not much room for the market to incorporate an additional interest rate up.”
Masato Koike, SOMPO Institute Plus, Senior Economist, Tokyo
“The focus of Mr. Ueda's press conference is what has changed this time compared to December in terms of available information. Certainly, the BOJ's Branch Director and President Donald Trump's inauguration speech. Although there was an input, at least the wage situation in Japan has not changed much, but I am worried about how Governor Ueda explains. “
“The terminal rate is also a point of attention. The economy will be steadily (for the BOJ's prospects), but it is doubtful that inflation can be stably exceeded 2 % for the end of FY2015. If the inflation of the product price slows down and the inflation slows down, the BOJ may not raise interest rates over 1%and may stop at about 0.75%. ”
Christopher Won, currency strategist, OCBC, Singapore
“The dollar/yen moved in both directions in response to unanimous votes, but then relaxed. Upon revision of the CPI prediction was that the policy officials embraced the inflation and the economy in response to expectations. It is about the following press conference.
Hirofumi Suzuki, Sumitomo Mitsui Banking Corporation, Chief Exchange Strategist, Tokyo
“The interest rate hike itself was completely woven, as it was widely reported in advance. The interest rate hike is as expected, and we expect the BOJ to raise interest rates every half year.”
“The yen has responded to the strong yen due to the significant revision of the price outlook in 2025 and 2026.
