BoJ to keep its 'QQE with yield curve control' policy unchanged – Danske Bank
|Analysts at Danske Bank published their preview on the Bank of Japan (BoJ) monetary policy decision that will be announced tomorrow around 0300 GMT.
Key Quotes:
“On the BoJ meeting, we expect it to keep its 'QE' with yield curve control' policy unchanged, while Governor Haruhiko Kuroda should downplay the significance of daily market operations and repeat the BoJ's commitment to the current yield curve control. Looking ahead, we think it will keep its policy unchanged in 2018, assuming Kuroda is reappointed when his term ends in April.
We expect BoJ QE exit concerns and uncertainty about the future BoJ leadership to weigh on USD/JPY and we have lowered our 1M target to 112 (113). Over the medium term, we still see USD/JPY trading mostly sideways within the 110-114.50 range, targeting 113 in 3M.”
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