Nomura economists expect the BOJ to ease further in July, with the possibility of an earlier easing not ruled out either. Key Quotes "Our economists expect the BOJ to ease in July again, but the possibility of an earlier easing cannot be ruled out, in our view." "Q4 GDP in Japan is scheduled to be released next Monday and is expected to show negative growth and a further inflation slowdown is likely in the near term." "Japanese policymakers’ stance on FX remains JPY negative as USD/JPY is trading around 115, which is an important level for Japanese exporters." For more information, read our latest forex news.