The Bank of Japan will hold a monetary policy meeting for two days starting on the 18th.
Within the Bank of Japan, there is a growing view that the spring wage increase rate has reached the highest level in 33 years, and that the environment is ripe for a change in large-scale monetary easing measures, and that the meeting will consider lifting the negative interest rate policy. .
The Bank of Japan has cited the realization of a virtuous cycle of wages and prices as a condition for changing large-scale monetary easing measures, and is closely monitoring the trends in the spring labor union, but according to Rengo, the wage increase rate is 5.28%, the highest level in 33 years. have become.
Although some members of the policy committee are cautious about changing policy, citing uncertainty over the spread of wage increases and signs of weakness in consumption, there is a widespread view within the Bank of Japan that the environment is improving.
On the first day of the decision-making meeting, nine policy committee members, including Governor Ueda, will attend and exchange opinions on the domestic and international economy, as well as the state of wages and prices.
On the 19th, after determining whether the 2% price stability target can be achieved, we will consider lifting the negative interest rate policy, which has been the pillar of monetary easing measures, and changing the framework called yield curve control. Masu.
The focus will be on the Bank of Japan's decision to end negative interest rates and raise interest rates for the first time in 17 years, as it is expected to have an impact on the economy and financial markets.