- Higher tariffs will obviously also have impact on Japan's economy, prices
- We will judge comprehensively said impact via new projections set out in 1 May meeting
- No new plans to immediately sell BOJ's ETF holdings
- It doesn't matter whether this year year's wage talk outcome is better or worse than last year's
March might be a bit too soon for the next rate hike but their communique in the lead up to the 1 May decision will be the crucial thing to watch. As things stand, traders are only pricing in ~18% odds of a rate hike but the situation can quickly change depending on how the BOJ wants to spin the narrative in the weeks ahead.
