🚨 The Japanese yen surged beyond 156 as markets brace for the Bank of Japan’s policy decision on January 24, with a 99% probability of a rate hike priced in by OIS and 74% of economists forecasting a 25 basis point increase, up from 52% in the previous survey. 💹 Driven by structural wage growth and persistent inflation, Japan’s CPI rose 2.7% YoY in November, marking 39 consecutive months of growth, while Tokyo’s December CPI hit 3.0% YoY. 🌍 Analysts highlight risks from global market volatility, which could impact BOJ’s decision-making, though a hike would likely strengthen the yen further.