BOJ out of the way, Kuroda presser up next

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Bali) - Following the decision by the BOJ to keep its monetary policy unchanged, vote 8-1, expanding its monetary base at a pace of Y80 trln/yr, the focus is now shifted to BOJ Governor Kuroda presser.

    The market will be looking for any possible hint of further easing by Kuroda, although he is starting to be nicknamed ' Mr.Yawner', so hopes should not be that high, and whether or not the central bank downgrades its assessment of CPI and GDP, as was reported late last week, according to sources familiar with the matter.

    As Reuters reported late last week, BOJ is likely to cut this year's fiscal core CPI forecast to below 0.5% at next week's rate review vs the current 0.7%, while GDP forecast is also expected to be downgraded to 1% from 1.7%.

    Headlines via Reuters - from last Friday

    BOJ likely to cut this fiscal year's core cpi forecast to below 0.5 pct next week from current 0.7 pct projection

    BOJ likely to cut next fiscal year's core cpi forecast only slightly from current 1.9 pct projection

    BOJ likely to cut this fiscal year's gdp forecast to around 1 pct from current 1.7 pct expansion

    BOJ unlikely to make substantial changes to next fiscal year's economic growth forecast of 1.5 pct

    Will only slightly tweak its projections for next year, sources said, possibly tempering expectations that the central bank will soon ease monetary policy further
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