The January BoJ policy meeting, personnel changes at the BoJ, and Japanese investor purchases of MBS and other USD fixed income: The MUFG Global Markets Podcast

The Suga Administration has applied its state of emergency to 11 prefectures, but uncertainty about COVID-19 remains. With the inauguration of the new U.S. administration, risk sentiment has continued to improve keeping U.S. and Japanese stock markets calm. Downside room for yen rates is limited, and yen basis is steady. The dollar/yen rate has stayed in a narrow range. The Bank of Japan’s January Monetary Policy Meeting made no policy changes. Decisions appear to be on hold until the monetary easing assessment comes out in March.

In today’s episode, MUFG Chief Japan Strategist, Takahiro Sekido, discusses the BoJ’s January monetary policy meeting, policy board personnel, U.S. TIC data, and recent cross-border flows. He also shares his outlooks for dollar/yen, yen rates, and yen basis.

Disclaimer: www.mufgresearch.com (PDF)