A series of speeches by BOJ officials is strengthening expectations of a rate hike at the September meeting. Market attention is rising against the backdrop of yen weakness and coordinated intervention by Japan and the United States.
Several senior BOJ officials, including Policy Board member Masu Kazuyuki (増一行), are scheduled to speak publicly ahead of the next monetary policy meeting, scheduled for 17 and 18 September. As a result, the possibility of a rate hike at the next meeting has become the market's focus.
Masu is scheduled to give a speech and hold a press conference on 10 September. Deputy Governor Himino Ryozo (氷見野良三) is expected to speak on 27 August, while Policy Board member Takata Hajime (高田創) is expected to speak on 2 September.
Following joint intervention by Japan and the United States in the foreign exchange market, as well as comments from financial authorities calling for an early rate hike, the direction of monetary policy in September is once again under scrutiny.
In the past, the BOJ ended its prolonged monetary easing and raised interest rates in June, while the yen fell to its lowest level in 40 years. Market participants are closely watching upcoming remarks and currency movements.