ICYMI: Nomura are now forecasting a Bank of Japan (BoJ) interest rate hike next week

Nomura assessed Ueda’s comments from Wednesday as being enough to shift their forecast for a Bank of Japan interest rate hike from March to January.

The BoJ meet on January 23 and 24.

Nomura also shifted its forecast for the following BoJ rate hike to July, from ocot previously.

ICYMI, Ueda’s comments sent the yen higher in the Tokyo afternoon:

• BoJ Gov Ueda says will raise rates if improvement in economy & price conditions continues
• More from Bank of Japan Governor Ueda – lots of positive talk about wage hikes

JPY gained after Ueda (arrow) and continued to do so. It also benefitted from some USD weakness overnight:

This article was written by Eamonn Sheridan at www.forexlive.com.