Nomura on what to expect from the Bank of Japan … but read on, maybe not when we expect!

  • probability high the BOJ will expand the targeted 10-year JGB yield range to about 30 basis points either side of zero, from around 20bps currently
  • change could be announced in Kuroda's press conference rather than in the policy statement (like was done in July 2018)
  • low probability BOJ further cuts its negative short-term rate, but likely to discuss the possibility of doing so in the future

via Bloomberg

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