Will the Bank of Japan determine the basic interest rate above zero by the end of 2023?
Market Rules
After sustaining a monetary policy of quantitative easing for 23 years to counter deflationary pressure, the Bank of Japan’s governor Kazuo Ueda has signaled in August of 2023 that this cycle may come to an end soon.
If the Bank of Japan issues a statement on monetary policy in 2023 determining that the country's short-term basic interest rate should be set at any level above zero, this market will resolve to “Yes”.
The last monetary policy meeting from the Bank of Japan in 2023 is set to take place on December 18th and 19th.