FXStreet (Delhi) – Dr Christoph Balz, Research Analyst at Comerzbank, suggests that the BoJ remains under enormous pressure to ease monetary policy once again after it did not change its monetary policy at its meeting on last Wednesday. Key Quotes “It will thus keep buying an annual ¥80trn in bonds and other assets. At the same time, it reiterated its view on the economy: “Japan’s economy has continued to recover moderately, although exports and production have been affected by the slowdown in emerging markets.” “We find the BoJ's view too optimistic. This is also supported by recent disappointing data from Japanese industry. Moreover, poor wage growth does not really support the central bank’s expectation that its inflation target is coming within reach.” “The next meeting on 30 October would be a good opportunity to do so as the central bank will then update its semi-annual outlook and looks likely to lower its growth and inflation projections in its wake. The most likely measure seems to be an increase in asset purchases. An interest rate cut has virtually been ruled out by BoJ Governor Kuroda. Incidentally, the last time the BoJ adjusted the dose of its purchases was this very meeting last year.” For more information, read our latest forex news.