The BOJ concludes its two-day monetary policy in Tokyo today. I’m not expecting any announcements of much significance. The meeting of April 4-5 resulted in a ‘big bang’ of reforms and while there may be some tweaking of programs in terms of technical details, there is unlikely to be anything much new announced.
But, you say, just in case we get surprised, what time should we expect the announcement at the end of the meeting?
OK – there is no scheduled time for a BOJ announcement after their policy board meeting. There is, however, a window during which we can expect it, 0330 to 0530GMT. The more there is for discussion and debate at a meeting, the later the announcement is to be expected, but as I’m not expecting anything major in the way of change then we should get the announcement towards the beginning of that time window. I’d expect it then, most likely between 0330 – 0400GMT, or very soon thereafter.
0300GMT is 11pm eastern daylight savings time in the US
0400GMT is midnight eastern daylight savings time in the US
BOJ chief Kuroda will be holding a press conference later in the day, and for that we do have a scheduled time, 0630GMT (which is 0230GMT eastern daylight savings time in the US).