ING with an 'in a nutshell' preview of the Bank of Japan statement due on Friday, 22 September 2023:

  • the BoJ is likely to stay pat
  • could however probably send a subtle hawkish message to the market after higher-than-expected inflation and a weak JPY, combined with rising global oil prices, pushed inflation up further.

I agree, while it seems unlikely that Bank of Japan Governor Ueda will pull the trigger on a policy tighten ing some sort of less dovish messaging from him would be welcomed by markets.


The BOJ don't schedule a specific time for its statement. Expect it in the 0230 to 0330 GMT time window. This is 10.30 to 11.30 pm US Eastern time.