BOJ to maintain its status-quo next week - BAML
|Analysts at Bank of America Merrill Lynch (BAML) offer a sneak peek at what to expect from next week’s Bank of Japan (BOJ) monetary policy decision, which will be accompanied by an updated economic assessment report
Main Quotes:
“The BoJ is likely to keep its rates and QE targets unchanged at its 31 October MPM, in line with consensus expectations.
BoJ cannot easily normalize policy or implement additional easing. First, it needs to keep reducing JGB purchases under YCC.
The BoJ's stubbornly dovish stance leaves JPY as a preferred funding currency. USD/JPY's volatility likely to come from USD.”
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