Bank of Japan preview – traders will focus on Governor Ueda's following press conference

<p>I posted a preview of the Bank of Japan statement due today earlier:</p><ul><li><a href="https://www.forexlive.com/centralbank/economic-calendar-in-asia-tuesday-23-january-2024-bank-of-japan-policy-statement-due-20240122/" target="_blank" rel="follow" data-article-link="true">Economic calendar in Asia – Tuesday, 23 January 2024 – Bank of Japan policy statement due</a></li></ul><p>And also, more significantly, some fresh info from Japan's Nikkei on what's coming up in the Outlook report:</p><ul><li><a href="https://www.forexlive.com/centralbank/bank-of-japan-to-revise-price-outlook-for-fiscal-2025-20240122/" target="_blank" rel="follow" data-article-link="true">Bank of Japan to revise price outlook for fiscal 2025</a></li></ul><p>Adding this now, from <a href="https://www.reuters.com/markets/asia/boj-debate-signs-progress-towards-price-goal-policy-seen-steady-2024-01-22/" target="_blank" rel="nofollow">Reuters</a>, a good summary of where we are at and what to expect:</p><p>Some main points:</p><ul><li>Bank of Japan is widely expected to retain its ultra-easy monetary settings</li><li>many in the bank likely prefer to spend more time determining whether wage increases will broaden enough to keep inflation sustainably at its 2% target, sources have told Reuters</li><li>

"The chance of Japan seeing a positive wage-inflation cycle kick off is heightening," said former top BOJ economist Seisaku Kameda. "The question is whether that will be sustained, which is something the BOJ probably wants to scrutinise," Kameda said, adding he expects negative rates to end in March or April.</li></ul><p>Check out that link above for more</p><p>-</p><p>Ueda will hold a press conference after the decision, which usually starts around 0630 GMT.
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This article was written by Eamonn Sheridan at www.forexlive.com.