BOJ monetary policy statement due Friday - preview
The Bank of Japan March policy meeting is on today and tomorrow (14 and 15 March)
There is no scheduled time for the announcement Friday, experience suggest 0230 to 0330 GMT (I'll have more on this tomorrow)
An 'on hold' decision is expected, but there may be adjustments made to the Bank's outlook (and not in a potivie way …)
Earlier previews here:
- We expect no change in policy.
- Recent comments from Kuroda highlight that further easing could be contingent on the JPY. These are not credible however as the BOJ is hamstrung by a deterioration in JGB conditions as evidenced in its dealer survey. This, alongside global growth worries, could feature prominently in the upcoming meeting.