Bank of Japan keeps rates steady but hawkish split points to June hike - CNA

The Bank of Japan maintained its key interest rate unchanged but revealed a hawkish split in voting, with some members supporting a rate hike, signaling growing momentum for a policy shift as early as June. This divergence underscores rising internal confidence that inflation sustainably targets the 2% goal, shifting market focus to the potential for tighter monetary policy amid resilient wage growth and inflation persistence. The yen and Japanese government bond yields are particularly sensitive, with the yen likely to strengthen and front-end JGB yields facing upward pressure if upcoming inflation and wage data support the tightening case. Traders will closely watch the April labor cash earnings report and May CPI data as key catalysts for a June rate hike.

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