BOJ policy statement due Tuesday - preview

Author: Eamonn Sheridan | Category: Central Banks

The Bank of Japan January 2020 meeting on monetary policy is today and tomorrow.

Expectations for any change in policy are low, nothing is expected. Last month we had the Japanese government announce extra fiscal stimulus (around 120bn USD worth) as an offset to the tax (sales tax) hike in October last year. Even if Kuroda was inclined to further ease policy (he'd have to get even further into unconventional territory to do so) he would sit it out at this meeting to assess the impact of this latest fiscal effort.

Counting against further monetary easing are what do appear to be 'green shoots' in various data points in Japan, and in Asia more broadly. For example, China's activity data for December published Friday is a case in point - IP in particular showed a solid beat on the month.


The Bank of Japan January 2020 meeting on monetary policy is today and tomorrow.The BOJ statement will be released (most likely) sometime in the 0230 to 0330GMT window. We have a specific time for Kuroda's following press conference though, due at 0630GMT. 

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