摩根士丹利：日本央行12月将加息25个基点，政策正常化进程将保持渐进

Core Viewpoint - Morgan Stanley expects the Bank of Japan to raise interest rates by 25 basis points in today's meeting while emphasizing that the policy will remain accommodative, with future movements dependent on data [1] Summary by Relevant Sections - Interest Rate Increase - The Bank of Japan is anticipated to increase interest rates by 25 basis points [1] - Policy Stance - Even after the rate hike, the Bank of Japan will indicate that the policy rate remains below the neutral range, reinforcing the signal that monetary policy continues to support the economy [1] - Future Guidance - The policy guidance is expected to stress that further tightening will be gradual and data-dependent, rather than following a predetermined path of rate increases [1] - Normalization Process - This framework suggests that while the Bank of Japan is continuing its policy normalization process, it will not commit to a series of aggressive or rapid rate hikes [1]