The Bloomberg survey of expectations for the BoJ has found unanimity.
All 52 economists tip the Bank will keep its benchmark interest rate unchanged at 0.5%.
Reasoning:
- concerns over
global economic growth mount due to escalating trade tensions
The focal point of the meeting, and Bank of Japan Governor Ueda’s press conference that follows, will be on signals, if any, related to the timing of the next move.
Its likely that Ueda will emphasise that there is no need to hurry along with rate hikes. Last week Uead expressed worry of the path the global economy is on.
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As is always the case with Bank of Japan meetings ther is no set time for the statement. Experience suggests 0230 to 0330 GMT ( 2230 – 2330 US Eastern time) is a reasonable time to expect it.
What is known re timing is that Ueda’s press conference will begin arat 0630 GMT (0230 US Eastern time).
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This article was written by Eamonn Sheridan at www.forexlive.com.