BOJ Governor Shirakawa is stepping down on March 19, slightly less than a month earlier than expected. In their daily analysis, Nomura said they are not surprised that Shirakawa is leaving early as he is expected to be a kind of “lame duck.”
The analysts said the expect the central bank to aggressive in easing rates in the next few months.
“We have expected the new BOJ leader to embark on more aggressive easing and we think the timing of the easing is earlier now, which is marginally positive for USDJPY.”
