BOJ Officials Signal September Rate Hike Amid Yen Pressure
Bank of Japan officials are signaling a possible rate hike in September, with several speeches and press conferences scheduled ahead of the next monetary policy meeting on September 17-18.
Bank of Japan board member Kazuyuki Masu will deliver a speech and hold a press conference on September 10, while Deputy Governor Ryozo Himino is set to speak on August 27.
The rate hike expectations have been strengthened by last week's joint intervention in the foreign exchange market by Japan and the United States, as well as comments from U.S. Treasury Secretary Scott Bessent expressing a desire for an earlier rate hike.
The slow pace of rate increases has put significant pressure on the yen, which has fallen to 40-year lows due to the wide gap between Japanese and US interest rates.