AllianzGI: BOJ Prepared to Keep Interest Rates Steady

Forex - AllianzGI's global CIO for multi-asset, Gregor MA Hirt, stated that the Bank of Japan is prepared to maintain interest rates in December and could provide some guidance on future steps. Hirt emphasized that economic developments are consistent with the BOJ's outlook, highlighting stable growth and encouraging inflation data. Although conditions support an interest rate hike, Hirt pointed to reports signaling concerns within the central bank about early action. "These reports also suggest that the BOJ sees very little negativity in delaying a rate increase," Hirt said, adding that, especially considering the market volatility experienced in July, the press conference will be significant for insights into BOJ's confidence in its outlook.