Source: Bank of Japan to keep policy steady in March

BlockBeats News, March 11th, T. Rowe Price portfolio manager Vincent Chung stated in a report that due to the need for time to reassess the current geopolitical situation, the Bank of Japan may maintain its interest rate in March.

He believes that the Bank may take monetary policy action in April as wage negotiation data will be available by then. He stated that recent increases in oil prices have heightened inflation risks, and persistently high oil prices could become a long-term drag on central bank policy.

Chung also pointed out that the market may be concerned about potential yen intervention, but the recent yen depreciation is in line with other foreign exchange peers. He added that if the Bank of Japan sends a dovish signal at the March meeting, it may exert further pressure on the yen. (FXStreet)