- Cannot reveal governor Ueda’s view
- But his broader view remains the same as he has discussed before
- Ueda’s hospitalisation is short-term, don’t see any impact on monetary policy conduct
Well, it has only been about a week since Ueda took his leave of absence. So, it is a fair assumption to think that the decision today was already well accounted for. That especially as the central bank has been managing that with their communication over the past month or so.
It will be more interesting to see what will happen after the summer. The BOJ is not expected to make any policy changes in July but the odds of another rate hike are closer to a coin flip by the time we get to the October meeting.
