The Bank of Japan (BoJ) will hold its Monetary Policy Committee (MPC) on Tuesday, October 31 and as we get closer to the Monetary Policy Decision, here are the expectations forecast by the economists and researchers of 10 major banks.
Analysts do not expect the BoJ to move away from its negative policy rate. By contrast, the market is split on the prospect of another tweak to Yield Curve Control . ANZ We don’t expect the BoJ to change policy at its upcoming meeting. There remains a chance it will drop its guidance that it won’t hesitate to take additional easing measures. It’s also possible that YCC could be tweaked given the upward pressure on bond yields.
The market will also pay more attention to the BoJ’s quarterly outlook for growth and inflation. If the central bank revises up its fiscal year 2024 inflation forecasts to above 2%, the market is likely to take this as a hint that policy normalisation is fast approaching. Deutsche Bank We expect the BoJ to revise its monetary policy framework but it is a close call.
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