BoJ Preview: Forecasts from six major banks, no change at the final meeting under Kuroda BOJ USDJPY Macroeconomics Banks
“We expect no change in the BoJ's key policy targets, including the +/-50 bps band around the zero% 10yr JGB long rate target. We summarize expected market reactions to tail risks: No change: the market to await Ueda . Shortening target from 10yr to 5yr: It could eventually be bearish for JPY if Ueda confirms dovish stance on the front-end as a 5yr ceiling can work as forward guidance . Raising 10yr target band ceiling to 1% from 0.5%: Policy uncertainty to remain high .
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