According to TD Securities analysts, the updated projections should reveal a less optimstic outlook in the Bank of Japan's meeting next week. "But, with financial stability concerns paramount, the BOJ will be loathe to make any major policy pronouncements at this time. Nonetheless, the BOJ will likely reinforce that it stands ready to provide more stimulus."
Previewing other macro events in Asia next week, TD Securities analysts note:
"Australia: We expect 1.9% y/y for headline CPI (mkt 1.5%) and 1.75% y/y for core (mkt 1.65%). Tobacco, housing and health are the main contributors, with the main drag from transport (i.e., fuel at -10% q/q) and communication (-0.3% q/q). Annual core inflation at 1.75% leaves the RBA on the sidelines, but a significant downside miss (-0.5pp) has been a trigger for a cut before (May 2016)."
"Indonesia: Low inflation, firmer IDR and some stabilisation in external conditions, point to a more confident outlook, paving the way for a rate cut, likely at the May meeting. Why not cut at this meeting? We think that Bank Indonesia will want to assess any change in government policies following the Presidential and Parliamentary elections that took place this week."
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