The Bank of Japan is taking an unusual step that signals its efforts to improve communications, in a move that may increase market expectations for a rate hike next month.
The central bank’s Deputy Gov. Ryozo Himino will be giving a speech to local business leaders in Yokohama followed by a news conference on Jan. 14, the BOJ said Monday. The move is unusual, as board members haven’t held this kind of event before the first policy meeting of the year at least since former Gov. Haruhiko Kuroda began his term in 2013.
By scheduling Himino’s event before the January meeting, the BOJ will have a solid opportunity to telegraph its thinking on monetary policy before a gathering where an increasing number of economists are forecasting a rise in borrowing costs.
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