Overnight press: Bank of Japan is considering upgrading its assessment of overseas economies

The Wall Street Journal reports, citing “people familiar with the central bank’s thinking”:

• The Bank of Japan is considering upgrading its assessment of overseas economies at its policy meeting this week (June 12 and 13)
• “It seems as though the prospects for overseas economies are gradually improving,”
• No change in policy is expected from the bank this week, but in its sector-by-sector analysis, the people said the bank may change its description of foreign economies
• Since the BOJ launched its current easing program in April last year, officials have almost every month predicted that foreign demand and Japanese exports would bounce back—only to be disappointed when the actual data came out. But this time may be different, the people said, noting that while it could take time before exports accelerate, U.S. economic indicators are pointing to an improvement overseas.

(Bolding mine … oh dear)

The article is ungated: BOJ Beat: Officials Encouraged By Strong U.S. Data

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If the BOJ express more optimism it puts the prospect or further easing even further away.