Its been a good long while since there has been much interest in a Bank of Japan policy decision.
The shock from the Swiss National Bank overnight has heightened interest in anything similar from the BOJ.
Just recapping what I posted earlier:
Thursday's shock rate hike from the Swiss National Bank:
Previews:
- Bank of Japan policy decision coming up on Friday 17 June - preview
- Red-headed stepchild, the BOJ, will issue its latest policy statement on Friday.
- Preview - BOJ monetary policy is expected to remain on hold - decision today
- BOJ policy change is likely to be to YCC ... but not today
OK, as for the clue. There is no firmly scheduled time for the Bank of Japan announcement. Its reasonable to expect it in the 0230 to 0330 GMT time window. As we approach the end of that hour, and especially if we go beyond it, expectations will rise that there is policy change afoot. Change takes discussion time.
As another heads up, as time goes by interest in providing prices in the yen dries up somewhat and yen crosses are hostage to wider spreads and potential swings. Be careful out there.
Also, go to the bathroom soon. This could be a long wait.
