BOJ to maintain its status-quo next week - BAML

Dhwani Mehta FXStreet

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.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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