BoJ Preview: Forecasts from nine major banks, null chances to suddenly change course BOJ USDJPY Macroeconomics Banks Japan
The BoJ is widely anticipated to maintain the status quo, leaving rates at record lows of -0.1% and the yield curve control policy on hold. “We expect the central bank to keep the policy balance rate unchanged in September, unlike other central banks, which have rapidly raised rates on inflation concerns. The BoJ aims to sustainably achieve its price stability target of 2%.
“BoJ will stand pat on monetary policy in the face of continuing economic weakness. While officials are monitoring rising inflationary pressures due to higher food prices and while a slide in the yen to a 24-year low against the dollar could potentially raise political pressure on the Bank to act, the BoJ's board will likely maintain an easing bias given that the output gap is in negative territory.
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