Morgan Stanley on Japan CPI forecasts ... and the next policy change from the BOJ

USD/JPY is having a wee bit of a wiggle, popping to circa 107.10 (briefly) and back under the figure now

Meanwhile, some commentary from Morgan Stanley MUFG Securities

• Forecasts CPI (core-core, which excludes fresh food and energy) to reach 1% in Q1 2019
• Says the stronger JPY has pushed back expectations on time to reach 1% core-core CPI

On the Bank of Japan ... MS expects the BoJ to adjust its 10-year bond yield target in Q1 2019

• MS MUFG were previously at Q3 2018
• following the recent Deputy Governot appointments at the Bank

Expects the BOJ to change the target to "around 0.15%" from the current "around 0%"

• interpreting around 0.15% to mean a band from 0%-0.3%