JPMorgan Sees BOJ Negative Rates, Yield Control Gone by Mid-2024
- Chief Japan equity strategist speaks at Bloomberg event
- Structural changes may bring Nikkei Index to 48,000 level
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The Bank of Japan’s yield curve control and negative interest rate policy will likely be removed by mid-2024, and Japanese stocks will continue to rally from the government’s wage hiking efforts, according to JPMorgan Securities Japan Co.’s Rie Nishihara.
While steering away from commenting on the likely outcome of this week’s central bank meeting, the chief Japan equity strategist pointed to Prime Minister Fumio Kishida’s efforts to raise Japan’s minimum wage as a key reason behind her views.