BlockBeats news, on June 17, Goldman Sachs expects that the economic activity and price indicators released since the April monetary policy meeting continue to show an strengthening of the domestic virtuous cycle in Japan, but the impact of tariff increases may be realized in the future. From a risk management perspective, under conditions of high uncertainty, it is expected that the Bank of Japan will maintain its policy interest rate unchanged in June, while maintaining its stance on gradual rate hikes.
Goldman Sachs believes that the next policy interest rate hike will be in January 2026. Regarding the Bank of Japan's mid-term assessment of the current Japanese government bond purchase reduction plan (as of March 2026), it is expected that the existing plan will remain unchanged. Subsequently, it is anticipated that the Bank of Japan will continue to reduce the scale of bond purchases over the course of a year, although the pace will be slower, ultimately reaching a level of about 2 trillion yen per month. This is in response to a survey conducted by the Bank of Japan among market participants in advance, and is consistent with the levels before QQE began. (Jin Ten)