One question is obsessing Tokyo’s financial markets: When will the Bank of Japan exit negative interest rates?
The country’s biggest bank expects the move to come in two weeks, and is positioning itself accordingly.
Mitsubishi UFJ Financial Group’s view is much more definitive than the swap market, which rates the chances of BOJ Gov. Kazuo Ueda changing policy this month at about 50%. When he does change course, it will have major implications for both the ¥1,096 trillion ($7.3 trillion) government bond market and for the nation’s currency.
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