普徕仕：预计日本央行本周会议按兵不动 或较预期提早加息

Core Viewpoint - The Bank of Japan is expected to maintain its current monetary policy in the upcoming meeting, although there are indications that an interest rate hike may occur earlier than anticipated, potentially in June or July [1] Group 1: Monetary Policy and Interest Rates - Market expectations suggest that the Bank of Japan may raise interest rates sooner than previously thought, despite the current stance of maintaining the status quo [1] - The reliance on verbal interventions alone is deemed insufficient to reverse the weakness of the Japanese yen [1] Group 2: Currency and Market Dynamics - The Japanese yen has been underperforming against other major currencies, and there is a significant risk of further depreciation due to the Bank of Japan's potentially lagging policy response [1] - The recent volatility in the Japanese government bond market, particularly in long-term bonds, is attributed to a lack of strategic capital allocation, making prices more sensitive to market conditions [1] Group 3: Future Outlook - The current market volatility in Japanese government bonds is expected to persist until 2026, indicating ongoing challenges in the bond market [1]