Given the circumstances, BOJ deputy governor Himino will be the one to chair the monetary policy meeting next week. Policymakers will be convening for the two-day meeting with the decision set to be announced on 16 June.
As for the press conference duty, that will be delegated to BOJ deputy governor Uchida instead.
I don’t expect this to change anything for the BOJ in terms of how the interest rate decision will play out. They are still widely expected to raise the policy rate by 25 bps to 1%. The only question now is will Uchida step in to communicate a more hawkish undertone to follow up on the decision.
If not, the yen currency might find itself in trouble still and that could prompt the ministry of finance to take action and intervene.
Circling back to the above story, the BOJ says that Ueda is expected to return for the meeting next month which will take place on 30-31 July. Wishing him a speedy recovery!
