Incoming – Japan: BOJ Monetary Policy Meeting concludes today

With the election underway its probably reasonable to expect an independent central bank to leave policy on hold.

But, just as a heads up.

• It looks like the BOJ is becoming less and less independent … if the LDP win in Japan it looks like BOJ independence is a thing of the past.
• Also, the current Economics Minister, Seiji Maehara, is attending the meeting. He doesn’t have a vote (but may well carry a big stick?).
• There have also been expectations of ‘bold monetary easing’ from the BOJ expressed from other members of the current government. There could very well be action from the BOJ announced today.