Bank of Japan watchers don’t expect any further change from the central bank this year, according to a survey conducted Monday, after the BOJ surprised investors around the world last week by tweaking its yield curve control (YCC) program.
More than 90% of 41 economists don’t anticipate any further moves this year, the Bloomberg survey found, following Friday’s decision that effectively raised the tolerated ceiling for 10-year yields. Economists now see April as the most likely month for the next policy shift, chosen by 26% of respondents.
Following Friday’s surprise move, scrapping YCC is the most likely next step from the central bank, according to 78% of economists, followed by raising the negative interest rate, chosen by 59%. The question allowed multiple answers from respondents.