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11 Mar 2014
Flash: What to expect from the BoJ today? - Westpac
FXStreet (Bali) - Sean Callow, FX Strategist at Westpac, notes that the Bank of Japan policy meeting that concludes today has very low expectations of any major policy change though some wariness over minor tweaks.
Key Quotes
"The 30 April meeting which includes the semi-annual economic outlook seems a far more likely time for an expansion of QE."
"Still, there will be some interest in the outcome, given the last meeting produced a double of the lending programs whereby banks can borrow from the BoJ at 0.1%. This surprise produced a 60 pip rise in USD/JPY."
"The decision is due any time from around 1:30pm Syd/10:30am Sing/HK. The longer we wait for the result, the more speculation will grow of another easing step."
Key Quotes
"The 30 April meeting which includes the semi-annual economic outlook seems a far more likely time for an expansion of QE."
"Still, there will be some interest in the outcome, given the last meeting produced a double of the lending programs whereby banks can borrow from the BoJ at 0.1%. This surprise produced a 60 pip rise in USD/JPY."
"The decision is due any time from around 1:30pm Syd/10:30am Sing/HK. The longer we wait for the result, the more speculation will grow of another easing step."