• We cannot pre-set timing of future policy change
• But would like to make appropriate decision while scrutinising economic developments
• In an economy where positive inflation is sustained, nominal rates will be high
• Will patiently maintain monetary easing to ensure that conditions are right for such cycle to be sustained

Once again, all of this just points towards the fact that they are pushing all the anticipation and attention to next year’s spring wage negotiations. The question then will be, can the BOJ follow through to normalise policy?

This article was written by Justin Low at www.forexlive.com.