BOJ Monetary Policy Navigator

  • Jan 24, 2024

BoJ leaves policy on hold; Outlook Report points to "gradually rising" likelihood of achieving price target

Key points
  • BoJ decides unanimously to leave monetary policy and forward guidance on hold

 

  • Projections for "core-core" CPI inflation in Outlook Report are unchanged, but Bank notes that "likelihood of realizing this outlook" has "gradually risen"

 

  • We expect BoJ will conclude at April 25-26 meeting that likelihood of achieving price target has "risen sufficiently" and wind down NIRP