BOJ Expected to End Negative Interest Rate Policy In 2024!

<p>&nbsp;A new approach to monetary policy is now expected under the new governor of the Bank of Japan (BOJ) Kazuo Ueda.</p><p><br /></p><p>The majority of market analysts are currently of the view that the BOJ will end its negative interest rate policy next year.</p><p><br /></p><p>80% of economists polled by Reuters are confident that the central bank is getting closer to exiting the ultra-loose monetary policy it has maintained for so long.</p><p><br /></p><p>However, it will be a big challenge for Ueda to navigate the new monetary policy while maintaining the stability of Japan's economy.</p><p><br /></p><p><br /></p><p>A handful of economists expect the BOJ's monetary policy change to begin as early as the end of the year, with negative interest rates ending at its December meeting.</p><p><br /></p><p>It is well known that the BOJ has continued to keep the negative interest rate unchanged even during the pandemic phase which saw the majority of central banks around the world aggressively lowering and raising interest rates.</p><p><br /></p><p>Meanwhile, investors are also keeping an eye on the movement of the Japanese Yen currency in the financial market with possible intervention measures to be taken by the central bank.</p><p><br /></p><p>However, that situation does not appear to be the case in the near term trading even when the price on the chart of the USD/JPY currency pair has surged past the important level of ¥150.00 last October.</p><p><br /></p><p>Prices have now traded back below those levels earlier this week after a bearish pattern began to show over the past week.</p>