ING expects next BOJ rate hike to reach 1.50% in January
Updated
Summary
ING expects the Bank of Japan’s next rate hike to 1.50% in January, or slightly earlier on 18 December.
Why it matters
ING says conditions it sees as needed for USD/JPY to move to 150—less hawkishness from the Federal Reserve and a much higher policy rate in Japan—may not emerge until 2Q27.
What remains uncertain
ING says the absence of a BOJ hike and news of GPIF fund re-allocation to Japan could weigh heavily on the yen.