USD/JPY should continue to hover around 148 assuming the BoJ springs no surprise – ING

The first policy meeting from the Bank of Japan (BoJ) in 2024 is scheduled for Tuesday, January 23. Economists at ING analyze Yen’s outlook ahead of the Monetary Policy Decision.

Bank of Japan likely to retain YCC

The earthquake in Japan makes it too early for the Bank of Japan (BoJ) to unwind its Yield Curve Control this week. There have been surprisingly few source stories ahead of this particular meeting, even though we will see a crucial set of new forecasts for prices and activity. 

Assuming the BoJ springs no surprise, USD/JPY should continue to hover around 148.