Just a quick heads-up for the Bank of Japan (BOJ) meeting which is being held today and tomorrow. The announcement from them will come tomorrow (Japan time) at the conclusion of the meeting.
Last month the BOJ surprised the market by easing further. The result from the meeting today (and tomorrow) is for nothing further.
But, hey, we didn’t expect anything last month and look what happened … could the market be wrong two months in a row?
The further easing at the October 31 meeting only just scraped through, the vote was 5 in favour and 4 against – Bank of Japan (BOJ) Governor Kuroda used his casting vote in favour to squeeze it through. Based on the closeness of the result the market is confident there will be nothing further from the BOJ at this meeting today and tomorrow, or for the next few months.