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Bank of Japan Policy Rate -0.1% (consensus -0.1%) in Dec-23

• The Bank of Japan maintains its policy rate at -0.1%, aligning with consensus forecasts, and continues its yield curve control, signalling a commitment to sustained stimulus despite moderate economic recovery.
• Factors influencing future interest rate policies include global economic conditions, inflation and wage dynamics, with an emphasis on achieving a sustainable 2% inflation target while balancing economic stimulus and inflation control.
• The BOJ's approach suggests a tendency to maintain low rates while adjusting cautiously in response to domestic and global economic indicators, market stability, and inflation trends.

Japan Unemployment Rate 2.5% (consensus 2.6%) in Oct-23

- Japan's unemployment rate in October 2023 declined to 2.5%, beating the consensus estimate of 2.6% and reaching its lowest level since January 2023.
- The jobs to applications ratio for the same period stands at 1.3, indicating a strong demand for labour and a positive outlook for the economy.