Kazuo Ueda's 'quiet period' sets a record for length, BOJ interest rate decision suspense increases sharply

Golden Ten Data on July 26, Japan Central Bank Governor Kazuo Ueda is setting a personal record for the longest quiet period before a policy meeting, making the Intrerest Rate decision more unpredictable and increasing volatility in financial markets. The last time Kazuo Ueda spoke publicly about monetary policy was 38 days ago, and such a long silence was unusual for the governor of Central Bank, who sometimes speaks multiple times a day. Typically, Kazuo Ueda is one of the most frequent public speakers of major Central Bank governors. "I don't think it's intentional," said Ataru Okumura, senior Intrerest Rate strategist at Sumitomo Mitsui Nikko Securities, but "this factor will keep all the speculation and expectations in the market until the end of the meeting." "Kazuo Ueda will not speak publicly until the end of the policy meeting on July 31. With more than 90 percent of respondents seeing rate hikes as a risk, this silence is of little help to those who observe Japan's Central Bank. Investors have been buying the yen as they bet that the Intrerest Rate will eventually tilt in favor of Japan.