Bank of Japan meeting next week - heads up preview
BOJ monetary policy meeting coming up on June 19 and 20.
- Announcement on June 20 (d'uh) - time, as always, unscheduled (0230 to 0330GMT is a good bet)
There are plenty of mutterings about the place that the Bank will be forced to ease even more this year, but expectations for that at this meeting are low indeed. There will be plenty more to come on this meeting, but ANZ to kick it off, this in brief summary from a much more detailed piece:
- The Bank of Japan is in a difficult place, with inflation still far from its goal and both external and internal demand fragile
- Its Yield Curve Control policy framework has become counterproductive in an environment of slowing growth and falling yields
- Although we don't anticipate any policy change at its 19-20 June meeting, pressure is growing for the central bank to cut its policy rate