Possibility of early BoJ rate hike fades with reciprocal tariff shock
Key points
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Trump administration announces reciprocal tariffs; will apply 24% duty on imports from Japan starting on April 9
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Developments in domestic economy have been "on track" until now, but BoJ may be forced to reconsider prospects for realizing its scenario
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At the very least, we see sharply reduced likelihood of early rate hike at April 30-May 1 MPM
