Masayuki Kichikawa

Masayuki Kichikawa is Chief Macro Strategist at Sumitomo Mitsui Asset Management, one of Japan's largest institutional asset managers. He specializes in analyzing Bank of Japan monetary policy, Japanese government bond markets, and macroeconomic dynamics in Japan. His research covers the implications of Japan's decades-long experiment with ultra-loose monetary policy, yield curve control (YCC), and the transition from deflation to reflation. As Japan navigates the normalization of its monetary policy following Haruhiko Kuroda's tenure, strategists like Kichikawa who deeply understand the BOJ's institutional thinking, political constraints, and policy tools are critical to global investors managing JPY exposure and JGB positions. His analysis of how the BOJ's balance sheet normalization interacts with JGB market liquidity and the yen carry trade has been closely followed by global macro funds navigating Japan's unprecedented monetary policy transition.