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A survey of 52 Bank of Japan (BOJ) watchers on September 11th showed that the BOJ will raise interest rates next week (100%), and expects another rate hike by January next year (approximately 93%, with about one-third predicting December and the remainder choosing January), indicating a significant acceleration in the policy normalization process. The survey results reflect a dramatic shift in economists views: in the previous survey in July, no one predicted a policy change in September. The BOJ faces upside risks to inflation, and repeated calls for action from US Treasury Secretary Bessenter have fueled expectations of a rate hike this month. Kato, chief economist at Totan Research Institute, wrote in a survey response: "The BOJ may be sending a signal to the market that rate hikes will be spaced roughly every three months. The focus is on how strongly it will imply that it may act more frequently if conditions allow." About 46% of respondents believe the BOJs rate hike pace will accelerate to about once per quarter, while the prevailing view a few months ago was once every six months. About 36% believe the pace will be once every four to five months, while the proportion believing in once every six months has plummeted from 82% in July to 6%.Micron Technology (MU.O): The total bonus for direct employees in Taiwan in fiscal year 2026 is equivalent to 35 to 68 months salary, with a minimum cash reward of NT$1.7 million.Micron Technology (MU.O): Annual performance bonuses in Taiwan for fiscal year 2026 can reach up to 500% of the benchmark target, plus stock awards.Micron Technology (MU.O): Employees in Taiwan who joined the company before August 29, 2025 will receive a cash bonus of NT$1 million (approximately RMB212,000) for fiscal year 2026.On September 11th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.4910%, and the lowest was 0.7060%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 0.9870%, and the lowest was 0.8640%. The highest 7-day annualized yield of Alipays "Yuebao" was 0.9000%, and the lowest was 0.8590%.

USD/JPY falls to 146.00 as the DXY weakens and interest in BOJ policy rises

Alina Haynes

Oct 27, 2022 15:28

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During the Asian session, in response to negative signals from the US dollar index, the USD/JPY pair plunged below 146.00. (DXY). Following Wednesday's low of 146.22, the asset's two-day downward trend has extended. The main index is reaching the bottom of Monday's knee-jerk reaction near 145.77 as it continues to decline.

 

The dollar bears are facing a severe sell-off due to the positive market sentiment. The risk-sensitive currencies have benefited from an increase in risk appetite. The US dollar index (DXY) has struck a new monthly low of 109.56 and is anticipated to stay volatile until the release of crucial US economic data.

 

The increased demand for U.S. government bonds has resulted in a decline in yields. This is due to the global markets' increased confidence. The yield on 10-year United States Treasury notes has decreased to 4%.

 

According to estimates, the Gross Domestic Product of the United States expanded by 2.4% in the third quarter. Despite the ultra-hawkish monetary policies of the Federal Reserve (Fed) and the previously disclosed 0.6% fall in growth, forecasts indicate a positive growth rate.

 

In addition, US Durable Goods Orders data will continue to be a key point. Compared to a reduction of 0.2%, it is projected that economic statistics will increase by 0.6%. Notable is the increase in core inflation, which includes oil and food prices. In spite of this, the predicted increase in demand for durable goods in the United States demonstrates healthy household demand.

 

Investors in Tokyo are anticipating the Bank of Japan's (BOJ) interest rate decision on Friday. In view of the shocks to foreign demand, BOJ Governor Haruhiko Kuroda will continue an ultra-loose monetary policy to stimulate the outlook for economic development. In addition, Japanese policymakers are anxious that the inflation rate could go below 2%; hence, an extremely liberal policy is the best alternative.

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