BoJ seen leaving policy rate on hold amid growing tariff uncertainty
Key points
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We expect BoJ will keep policy rate at 0.5% at March 18-19 MPM and see no need for it to consider consecutive rate hikes
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Amid growing uncertainty over Trump administration tariff policy, likelihood grows that Japan will be subject to reciprocal tariffs or auto tariffs
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One question is how Governor Ueda will weigh domestic prices that are "on track" against uncertainty created by US tariff policy
