FITCH: IF GLOBAL ENERGY CRISIS PERSISTS FOR EXTENDED PERIOD, COULD BE POTENTIAL ECONOMIC SPILLOVERS ON CHINA'S TRADE AND MANUFACTURING SECTORS

WARSH: ALL NEED SUBSTANTIAL REFORM

The Bank of Japan is leaning toward keeping its policy rate at 0.75% at the April 28 meeting due to Middle East uncertainty, according to people familiar, though it remains committed to raising rates when conditions allow. Officials see little urgency given a fluid outlook, but some favor a hike as geopolitical shocks may lift inflation, with forecasts potentially revised higher. Markets now price just an 8% chance of a move versus 73% in March, while officials view the decision as less clear-cut and will monitor the US-Iran conflict closely. A June hike is possible if conditions hold, with yen weakness near 160 per dollar and communication concerns also shaping deliberations.