Ahead of the BOJ meeting outcome - poll on what to expect
Reuters polling of economists ahead of the BOJ is more focused on meeting further out than this one.
Still, some of the comments reported are a decent guide to what is coming tomorrow:
- "We don't expect the BOJ to ease further in the near term"
- "The BOJ is expected to maintain its scenario projecting a pick-up in global growth, while sticking to its easy-policy bias to help the economy build momentum to hit its 2% inflation target"
Net, the Reuters poll expects that the BOJ will keep monetary policy steady
- will slightly increase its economic growth forecast
Current settings, in brief:
- short-term rates target -0.1%
- 10-year government bond yield target around 0%
Unrelated to tomorrow's meeting but of interest:
- 41 economists polled by Reuters said the BOJ's negative rate policy did not help the economy and prices, while 17 said they did
- Thus the majority of the polled economists expect the next move by the BOJ would be to taper its massive stimulus, possibly sometime next year