The Bank of Japan meet this week with the statement due on Thursday 17 December 2018

As you all know, there is no scheduled time for their announcement, it comes when it comes but the 0230 to 0330 GMT is a reasonable time to  expect it.

Some thoughts on what's coming up from the Bank via UOB, highlighting some potential for minor change:
  • Among the G10 central banks, the Bank of Japan (BOJ) continues to be the least likely to normalize its easy monetary policy anytime soon. 
  • We think that the BOJ may still need to do more "tweaks" to reassert its easy monetary policy position, just like the July 2018 MPM. We cannot rule out that the "tweaks" may be brought forward to Dec 2018.
Via Nordea:
  • the Bank of Japan is still licking its wounds after the semi-failed attempt in July to move towards a normalisation of the YCC policy

 

View More

View Full Article with Comments

Mon 17 Dec 2018 02:58:48 GMT

Its a big pre-Christmas central bank week - FOMC, BOJ, BoE all coming up

View More

Its a big pre-Christmas central bank week - FOMC, BOJ, BoE all coming up


Eamonn Sheridan
Mon 17 Dec 2018 02:58:48 GMT
Category: Central Banks
0


Well, we can narrow it down a little to a big central bank day on Thursday December 20  The lucky peeps of the Asian time zone get to kick it off with the Bank of Japan announcement due at … well, once the sake runs out 'cause there is no schedule time for the statement

Asset 24 View More
May warns Merkel and Macron that Brexit deal is dead unless they compromise
Asset 41
Mon 17 Dec 2018 02:29:55 GMT

7

Big US week coming up - FOMC rate hike expected

View More

Big US week coming up - FOMC rate hike expected


Eamonn Sheridan
Mon 17 Dec 2018 02:29:55 GMT
Category: Central Banks
7
A preview of the Federal Open Market Committee meeting due this week This is via RBC:  

Asset 24 View More
Mon 17 Dec 2018 02:00:05 GMT

PBOC says chill out on the 160bn yuan injection today

View More

PBOC says chill out on the 160bn yuan injection today


Eamonn Sheridan
Mon 17 Dec 2018 02:00:05 GMT
Category: Central Banks
0
The People's Bank of China conducted an open market operation today - the first in 37 sessions - injected 160bn yuan via 7 day RRs  PBOC statement now says the move was to counter drains from:

Asset 24 View More
Mon 17 Dec 2018 01:57:10 GMT

AUD traders - heads preview up for RBA minutes due Tuesday 0030GMT

View More

AUD traders - heads preview up for RBA minutes due Tuesday 0030GMT


Eamonn Sheridan
Mon 17 Dec 2018 01:57:10 GMT
Category: Central Banks
0
Coming up Tuesday 17 December 2018 morning local time, Reserve Bank of Australia December meeting minutes There is not a lot expected from the minutes.  ANZ:

Asset 24 View More
Mon 17 Dec 2018 01:16:43 GMT

PBOC sets USD/ CNY mid-point today at 6.8908 (vs. Friday at 6.8750)

View More

PBOC sets USD/ CNY mid-point today at 6.8908 (vs. Friday at 6.8750)


Eamonn Sheridan
Mon 17 Dec 2018 01:16:43 GMT
Category: Central Banks
0
On Friday CFETS set the yuan at 93.28, barely changed from the previous Friday at 93.27 - PBOC injects 160bn yuan through 7 day reverse repos - net 160bn yuan injection (no RRs mature today) First PBOC open market operation in 36 sessions... had skipped OMOs for 36 consecutive sessions, longest ever since starting the policy in 2016.

Asset 24 View More
Mon 17 Dec 2018 01:03:15 GMT

PBOC says it will open up financial markets in an orderly way

View More

PBOC says it will open up financial markets in an orderly way


Eamonn Sheridan
Mon 17 Dec 2018 01:03:15 GMT
Category: Central Banks
0
People's Bank of China with a few comments: - will guide reasonable growth of credit and social financing - will further improve monetary policy transmission channel

Asset 24 View More
Sun 16 Dec 2018 23:55:42 GMT

BOJ Tankan report (part 2) - inflation still seen missing target

View More

BOJ Tankan report (part 2) - inflation still seen missing target


Eamonn Sheridan
Sun 16 Dec 2018 23:55:42 GMT
Category: Central Banks
0
This is the BOJ survey on corporate price expectations, released a day after the main part of the quarterly Tankan (A business day that is, Tankan was out on Friday)

Asset 24 View More
Sat 15 Dec 2018 18:32:25 GMT

4

Draghi celebrates 20 years of the euro

View More

Draghi celebrates 20 years of the euro


Adam Button
Sat 15 Dec 2018 18:32:25 GMT
Author: Adam Button
Category: Central Banks
4
Draghi talks about the euro in weekend speech I can't believe it's been 20 years already, it still seems like a 'new' currency. ForexLive

Asset 24 View More
Fri 14 Dec 2018 20:51:15 GMT

7

EUR/USD in a narrow range but next week's FOMC could be a game-changer - MUFG

View More

EUR/USD in a narrow range but next week's FOMC could be a game-changer - MUFG


//az705044.vo.msecnd.net/20181214/eurusd-daily-chart.png Adam Button
Fri 14 Dec 2018 20:51:15 GMT
Author: Adam Button
Category: Central Banks
7
MUFG on the euro MUFG Research discusses EUR/USD outlook and adopts a neutral bias but flags next week's FOMC as a possible trigger for reversing USD strength through next year. "The euro is continuing to stabilize at lower levels against the US dollar. A narrow trading range between the 1.1200 and 1.1500-levels remains in place for now. The ECB's latest policy meeting proved largely uneventful for the euro. The ECB was more cautious on the growth outlook but it was largely as expected as market participants have already pushed back the timing of the first expected ECB rate hike into 2020," MUFG notes. 

Asset 24 View More
Fri 14 Dec 2018 15:58:49 GMT

Draghi repeated line on "continuing confidence with increasing caution" to EU leaders

View More

Draghi repeated line on "continuing confidence with increasing caution" to EU leaders


Adam Button
Fri 14 Dec 2018 15:58:49 GMT
Author: Adam Button
Category: Central Banks
0
Draghi met with EU leaders Draghi summarized the ECB view yesterday as "continuing confidence with increasing caution" and he repeated that line in talks with EU leaders, according to a Reuters source.

Asset 24 View More
Fri 14 Dec 2018 12:21:01 GMT

1

ECB's de Cos says that unconventional monetary policy is here to stay

View More

ECB's de Cos says that unconventional monetary policy is here to stay


Justin Low
Fri 14 Dec 2018 12:21:01 GMT
Author: Justin Low
Category: Central Banks
1
ECB member and Bank of Spain governor comments ECB speakers have been rather vocal today with earlier comments seen here: ForexLive

Asset 24 View More
Fri 14 Dec 2018 09:16:30 GMT

ECB's Vasiliauskas: Risks are seen tilted to the negative side

View More

ECB's Vasiliauskas: Risks are seen tilted to the negative side


Justin Low
Fri 14 Dec 2018 09:16:30 GMT
Author: Justin Low
Category: Central Banks
0
An opposite stance to Nowotny's comment - Eurozone risks are mixed, warrants monitoring - Says that in the end, there was a "unanimous assessment" yesterday on language ForexLive

Asset 24 View More
Fri 14 Dec 2018 09:09:21 GMT

ECB's Nowotny: Risks to growth are broadly balanced

View More

ECB's Nowotny: Risks to growth are broadly balanced


//az705044.vo.msecnd.net/20151015/nowotny-gold.png Justin Low
Fri 14 Dec 2018 09:09:21 GMT
Author: Justin Low
Category: Central Banks
0
ECB member Ewald Nowotny speaks in Vienna - Inflation is seen trending in-line with ECB goal - Core inflation trend is going in the right direction ForexLive

Asset 24 View More
Fri 14 Dec 2018 09:06:39 GMT

1

de Guindos says that ECB needs to be cautious

View More

de Guindos says that ECB needs to be cautious


Justin Low
Fri 14 Dec 2018 09:06:39 GMT
Author: Justin Low
Category: Central Banks
1
ECB vice president Luis de Guindos speaks in Frankfurt - Markets are well-aligned with our policy - We have to keep our optionality at the maximum level ForexLive

Asset 24 View More
Fri 14 Dec 2018 07:37:02 GMT

1

Bundesbank cuts 2018 German GDP growth forecast to 1.5%; previously 2.0%

View More

Bundesbank cuts 2018 German GDP growth forecast to 1.5%; previously 2.0%


//az705044.vo.msecnd.net/20180806/0-germany.png Justin Low
Fri 14 Dec 2018 07:37:02 GMT
Author: Justin Low
Category: Central Banks
1
Bundesbank releases their latest projections for the German economy - 2018 GDP growth seen at 1.5% ( 2.0%) - 2020 GDP growth seen at 1.6% (unchanged) - 2021 GDP growth seen at 1.5%

Asset 24 View More
Fri 14 Dec 2018 06:50:36 GMT

1

Some BOJ officials said to be fine with yields going to zero

View More

Some BOJ officials said to be fine with yields going to zero


//az705044.vo.msecnd.net/20181214/14-12-2018-2-45-17-pm.png Justin Low
Fri 14 Dec 2018 06:50:36 GMT
Author: Justin Low
Category: Central Banks
1
Bloomberg reports, citing people familiar with the matter For some context, 10-year yields fell to its lowest levels since July today: As yields move back closer towards zero, it further highlights the struggles faced by the BOJ as it sets out to attempt to normalise monetary policy over the next few years. Couple that with recent economic headwinds, the central bank don't look anywhere near to moving away from current easing policies currently.

Asset 24 View More
Fri 14 Dec 2018 04:20:53 GMT

Economists forecasts for BOJ policy in 2019

View More

Economists forecasts for BOJ policy in 2019


Eamonn Sheridan
Fri 14 Dec 2018 04:20:53 GMT
Category: Central Banks
0
From Reuters survey of economist on Japan, current BOJ policy of the Bank of Japan: - short-term interest rates at minus 0.1% - long-term rates around zero % Economists surveyed by Reuters expect these to remain in place until mid-2020 (at least)

Asset 24 View More
Fri 14 Dec 2018 01:48:00 GMT

1

PBOC injects funds through MLF

View More

PBOC injects funds through MLF


Eamonn Sheridan
Fri 14 Dec 2018 01:48:00 GMT
Category: Central Banks
1
You heard it here first ladies and gentlemen:  People's Bank of China injects 286bn yuan (renewing a 286 bn yuan 1yer MLF maturing today) - 1 year medium term lending facility We have some data coming from China at 0200GMT

Asset 24 View More
Fri 14 Dec 2018 01:16:58 GMT

PBOC sets USD/ CNY reference rate for today at 6.8750 (vs. yesterday at 6.8769)

View More

PBOC sets USD/ CNY reference rate for today at 6.8750 (vs. yesterday at 6.8769)


Eamonn Sheridan
Fri 14 Dec 2018 01:16:58 GMT
Category: Central Banks
0
People's Bank of China TGIF onshore yuan mid rate PBOC skips open market operations again today  - 36th session in a row - no RRs mature today, neutral from the bank Spidey sense tingling there may be a MLF from the Bank today …. 

Asset 24 View More
Fri 14 Dec 2018 01:11:06 GMT

3

BOJ has cut its purchase of JGBs in the 5-10 year window

View More

BOJ has cut its purchase of JGBs in the 5-10 year window


Eamonn Sheridan
Fri 14 Dec 2018 01:11:06 GMT
Category: Central Banks
3
BOJ buying 430bn yen of bonds with 5 to 10 years remaining unitl maturity - a cut from last time around when the bought 450bn yen If you are chasing a narrative for why yen is up , there is one for you (note the auction results came out after the yen had gained, so there is that to consider). 

Asset 24 View More
Fri 14 Dec 2018 00:28:33 GMT

1

US recession risk higher, Fed hike expectations lower say economists

View More

US recession risk higher, Fed hike expectations lower say economists


Eamonn Sheridan
Fri 14 Dec 2018 00:28:33 GMT
Category: Central Banks
1
Reuters latest poll of economists on the US economy and Federal Reserve  Citing: (flattening yield curve suggests investors believe economic growth and inflation will slow)

Asset 24 View More
Thu 13 Dec 2018 23:51:38 GMT

1

BOJ Tankan report for Q4 2018: Large Manufacturers index at 19 (expected 18)

View More

BOJ Tankan report for Q4 2018: Large Manufacturers index at 19 (expected 18)


Eamonn Sheridan
Thu 13 Dec 2018 23:51:38 GMT
Category: Central Banks
1
A beat for the 'headline' result  Tankan Large Manufacturing Index, 19. Matches Q3 and a beat of estimate.  - expected 18, prior was 19 Tankan Large Non-Manufacturing Index, 24. Beat here also, and ahead of Q3.

Asset 24 View More
Thu 13 Dec 2018 23:41:55 GMT

2

Morgan Stanley: Next week's FOMC meeting is only about one thing (preview)

View More

Morgan Stanley: Next week's FOMC meeting is only about one thing (preview)


Eamonn Sheridan
Thu 13 Dec 2018 23:41:55 GMT
Category: Central Banks
2
The Federal Open Market Committee meeting December 19 an 20 is about how many interest rate hikes there will be in 2020 Sound about right, yep. More: - expects Fed to lower growth and rate increases for next year Forecasts from MS:

Asset 24 View More
Thu 13 Dec 2018 21:57:00 GMT

1

BOJ quarterly Tankan survey of companies is due today - what to expect

View More

BOJ quarterly Tankan survey of companies is due today - what to expect


Eamonn Sheridan
Thu 13 Dec 2018 21:57:00 GMT
Category: Central Banks
1
The Q4 Bank of Japan Tankan Survey of manufacturing and service companies, designed to assess business conditions in Japan. The BOJ Tankan is conducted quarterly.

Asset 24 View More

More Headlines


By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose