Commerzbank: A BOJ rate hike in December is already almost fully priced in by the market

Commerzbank analyst Michael Pfister noted that the Bank of Japan kept interest rates unchanged after raising them in September, but sent a hawkish signal by suggesting that underlying price pressures have reached the 2% inflation target. The market believes that the possibility of a further rate hike by the Bank of Japan in December is growing, and this expectation has been almost fully priced in by the market. If Bank of Japan Governor Kazuo Ueda provides further related clues, the yen may receive moderate support in the short term.