Ahead of the BOJ meeting outcome - poll on what to expect

Author: Eamonn Sheridan | Category: Central Banks

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:
Societe Generale:
  • "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%
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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




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