Bank of Japan Watch Intervention moving up the agenda The February meeting of the Bank of Japan’s Policy Board is likely to be uneventful, unless the Ministry of Finance orders another round of intervention in foreign exchange markets. If the Bank... 7th February 2012 · 1 min read
Bank of Japan Watch GDP & inflation forecasts downgrade The January meeting of the Bank of Japan’s Policy Board will yield updated forecasts for GDP and inflation but probably little else. We don’t expect any changes in the Board’s monetary policy stance... 19th January 2012 · 1 min read
Bank of Japan Watch What next for the Asset Purchase Program? The Bank of Japan is unlikely to make any changes to its policy stance at its November meeting next week. The two main policy options available are a further increase in the size of the Bank’s Asset... 10th November 2011 · 1 min read
Bank of Japan Watch Forecast downgrade and further easing, with a twist The Bank of Japan’s Policy Board is highly likely to cut its forecasts for GDP and inflation at its meeting tomorrow. Along with the fragility of financial markets and the strength of the yen, this... 27th October 2011 · 1 min read
Bank of Japan Watch Policy on hold ahead of forecast updates in late October We do not expect any changes in monetary policy from the Bank of Japan next week or for the rest of this year. The Policy Board could again be forced into action by the fallout from global financial... 30th September 2011 · 1 min read
Bank of Japan Watch Intervention increasingly likely as yen strengthens further The Bank of Japan’s Policy Board is unlikely to announce any major monetary policy initiatives at the two-day meeting which concludes on Friday. However, the continued strength of the yen makes... 3rd August 2011 · 1 min read
Bank of Japan Watch Board not yet ready to heed IMF advice This week the IMF added its voice to those calling for further monetary easing from the Bank of Japan. However, the Policy Board seems more likely to upgrade its own assessment of the state of the... 11th June 2011 · 1 min read
Bank of Japan Watch GDP forecasts to be cut, but not by enough The Bank of Japan’s Policy Board is certain to cut its GDP forecasts for the current fiscal year on Thursday, but not, we think, by enough to reflect the full impact of the recent disaster. Nor are... 26th April 2011 · 1 min read
Bank of Japan Watch Forecasts looking too rosy The Bank of Japan’s Policy Board is unlikely to announce any major policy initiatives at the two-day meeting which concludes tomorrow. 24th January 2011 · 1 min read
Bank of Japan Watch Bank of Japan looks overseas for salvation The Bank of Japan left policy on hold today, as universally expected, while the accompanying statement lent heavily on hopes of a strong recovery in the rest of the world. The problems at home were... 21st December 2010 · 1 min read
Bank of Japan Watch Further substantial easing to come The Bank of Japan’s Policy Board is unlikely to announce any major policy initiatives at the two-day meeting which concludes next Tuesday. However, we continue to think that the central bank will have... 16th December 2010 · 1 min read
Bank of Japan Watch Ready to respond? (Nov 10) The rescheduling of the Bank of Japan’s next Policy Board meeting to Thursday and Friday this week was surely designed to provide an early opportunity to assess any market fall-out from the US Fed’s... 2nd November 2010 · 1 min read
Bank of Japan Watch Easing bias in place for the foreseeable future The Bank of Japan’s Policy Board meets on Thursday and will almost certainly forecast that inflation will remain well below the new informal target of 1% until at least 2012. This does not necessarily... 26th October 2010 · 1 min read
Bank of Japan Watch Yen intervention not yet a significant monetary tool The recent currency intervention by the Bank of Japan was almost certainly not the major shift in monetary policy that many seem to assume. The move was ordered by the Ministry of Finance and the... 29th September 2010 · 1 min read
Bank of Japan Watch Forecasts of end to deflation are premature The Bank of Japan’s Policy Board is almost certain to raise its projections for both economic growth and consumer prices at tomorrow's meeting. Indeed, reliable media reports suggest it will forecast... 29th April 2010 · 1 min read
Bank of Japan Watch Token “easing” could now disappoint markets The Bank of Japan is now widely expected to announce some additional monetary stimulus at its next Policy Board meeting (which concludes on Wednesday 17th). However, we suspect this will simply be an... 10th March 2010 · 1 min read
