The BoJ is expected to raise rates today – here is when to expect the Statement

It’s a big day for the Bank of Japan, its expected to take its benchmark rate +25 bp to 0.5%, the highest since 2008 and the biggest rate hike since February 2007.

As always, there is no firm time for the BoJ statement. Experience suggests to expect it some time in the 0230 to 0330 GMT time window.

What we do have a time for is the news conference later from Bank of Japan Governor Ueda, that’s due at 0630 GMT. I suspect he’ll signal further rate hikes.

Previews here:

• Poll shows 18 out of 19 economists expect a Bank of Japan rate hike on Friday
• The BOJ meet today and tomorrow and is unlikely to delay rate hike action

And, earlier from Japan:

• Japan December headline CPI +3.6% (expected +3.4%, prior 2.9%)

Meanwhile, the yen is losing ground:

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