Bank of Japan watchers see a policy shift coming much sooner than previously thought, following December’s yield band adjustments that rocked global financial markets.
While a survey of 43 economists showed all but one predicting the central bank to leave policy unchanged next week, some 38% of respondents now forecast moves either in April, when a new governor takes the helm, or in June. That’s a jump from 15% in last month’s poll.
Looking a little further ahead, more than half of the economists see the bank moving toward normalization by the end of July.
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