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ING Group: Japanese corporate confidence remains robust, and the timing of the Central Bank's interest rate hike may await the implementation of the US-Japan trade agreement.
According to Gate News bot, reported by Jin10, the latest second quarter Tankan survey released by the Central Bank of Japan shows that despite the uncertainties brought by trade frictions, both large and small enterprises in Japan maintain an overall optimistic attitude. The confidence of manufacturing companies is particularly stable, with their business sentiment index continuing to remain positive. The Manufacturing Purchasing Managers' Index (PMI) has risen to the expansion zone for the first time in 12 months, confirming this trend.
Market expectations suggest that the Bank of Japan may initiate interest rate hikes within the year. Analysis from ING (Dutch International Group) indicates that the decision to raise rates is likely to occur only after the formal signing of the US-Japan trade agreement. The agency currently predicts that the Bank of Japan will raise rates by 25 basis points in October. However, ING also pointed out that if the US-Japan trade agreement can be reached earlier than expected, and the terms are more favorable for Japan, then the timing of the rate hike could be moved up to September.