The Bank of Japan is due to announce its monetary policy decision today and analysts say they do not expect any substantive changes.
Weak inflation expectations is one of the likely reasons that the Bank of Japan will not follow in the same direction as the Fed on Friday, Joseph Capurso, head of international economics at the Commonwealth Bank of Australia, wrote in a Friday morning note.
"The sharp contrast between high US inflation and barely existent inflation in Japan suggests that supply bottlenecks are not dominating the overall inflation trend," he said, adding, "Other factors such as a very strong demand impulse in the US compared to elsewhere, including Japan, is probably behind the US's exceptional inflation impulse."
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