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2026

2025

  • Daiwa's View - Benefits vs costs of waiting: Re-examining December rate-hike argument

    Daiwa's View - Benefits vs costs of waiting: Re-examining December rate-hike argument

    1 October 2025 367 KB PDF
    • Building momentum for Oct rate hike; want to maintain balanced perspective by deliberately examining benefits of waiting until Dec
    • While Dec argument has at least five benefits, none are decisive in this case
    • High likelihood of additional rate hike (to 0.75%) decided at Oct MPM provided upbeat Tankan, hearings; additional speech by BOJ Deputy Gov Himino announced on 30 Sep (slated for 21 Oct) likely another step toward improving BOJ communication regarding interest rate hikes
  • Daiwa's Economic View - BOJ Tankan September survey: Uncertainty eases

    Daiwa's Economic View - BOJ Tankan September survey: Uncertainty eases

    1 October 2025 525 KB PDF
    • Major improvement in corporate sentiment/earnings
    • Strong capex appetite, uncertainty easing
    • Inflation also more likely to reach 2% target