A survey of BOJ watchers found that expectations for the terminal rate in the current rate-hike cycle had shifted upward. More respondents than in the previous survey support a forecast of 2.00%.
A Nikkei QUICK News survey of Bank of Japan watchers showed a tendency for market participants to revise up their terminal-rate forecasts during the current rate-hike cycle. As a result, forecasts calling for a terminal rate of 2.00% have gained ground from the previous survey.
However, 1.75% remained the most common forecast, indicating that the overall consensus continues to fluctuate between 1.75% and 2.00%. The survey was conducted from the 14th to the 20th.
The results suggest that views on the terminal level for the BOJ's policy rate remain divided during its rate-hike cycle, with attention focused on the outlook ahead.