即時觀點——投資者對日本央行加息決定的反應
The Bank of Japan raised interest rates to 0.75%, marking a significant shift from decades of monetary support. Analysts expect short-term JPY volatility and a stronger Nikkei, with focus on BOJ Governor Ueda's press conference for future guidance. The move is seen as a step towards gradual normalization by 2026-27.
Dec 19 (Reuters) - The Bank of Japan raised interest rates on Friday to levels unseen in three decades, taking another landmark step in ending decades of huge monetary support and near-zero borrowing costs.
As widely expected, the central bank raised short-term interest rates to 0.75% from 0.5% by a unanimous vote.
COMMENTS
MASAHIKO LOO, SENIOR FIXED INCOME STRATEGIST, STATE STREET INVESTMENT MANAGEMENT, TOKYO:
“The market may interpret the hike as dovish, causing short-term JPY volatility. Longer-term target of 135–140 remains intact, supported by Fed easing and Japanese investors raising hedging ratios from historically low levels.
“Positioning favours a stronger Nikkei, steeper JGB curve, and weaker yen under Sanaenomics. With the BOJ terminal rate priced at 1.5%, most JGB weakness is already in the market.
“Focus now shifts to (BOJ Governor Kazuo) Ueda’s press conference tone and forward guidance — likely neutral, signalling gradual normalisation into 2026–27 without leaning too dovish or hawkish. Ueda faces a delicate balancing act.”
