BOJ will not unwind easy policy at this week’s meeting – poll

As for when the BOJ might end negative rates, the majority now sees that as coming some time in 2024. 13 of 25 economists are of that view, representing 52%, and that is up from a roughly 41% proportion in the August poll. As for yield curve control, 21 of 27 economists (~78%) say that it will happen by the end of next year.

On the latter, there are two standout calls with Barclays and Mizuho Securities arguing that the BOJ would scrap yield curve control in October. Barclays says that:

“YCC is increasingly becoming a matter of formality and will likely be abolished in October, when the BOJ publishes its quarterly outlook report.”