BoJ on track to hike despite Ueda’s absence

Following his unexpected hospitalisation, Governor Ueda will miss next week's BoJ meeting. However, with inflation pressures continuing to build, there will almost certainly still be a majority in favour of a rate hike. Meanwhile, although the weak yen is creating headaches for policymakers by boosting imported inflation, it is also helping in some ways: It is one reason why Japanese firms are suffering less in the face of Chinese competition than many in Europe.