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The BoJ will likely hand over the existing framework to the new governor. However YCC will likely face further market challenges around key events.

  • The BoJ stood firm and held policy settings unchanged amid intense market speculation.

  • The updated BoJ forecasts showed officials are sceptical about inflation pressures remaining sustained.

  • However, comments by Governor Kuroda signal a degree of uncertainty for YCC.

  • The upcoming Shunto wage negotiations and the announcement of the new governor will be key waymarks for the policy outlook.

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