The Bank of Japan (BoJ) will announce its Monetary Policy Statement on 17 September at 03:00 GMT. The market consensus is for the BoJ to stay on hold and as we get closer to the release time, here are the expectations forecast by the economists and researchers of six major banks regarding the upcoming central bank’s meeting. As far as the yen is concerned, attention is on politics as Yoshihide Suga has officially assumed his position as Prime Minister, replacing his long-serving boss Shinzo Abe. Standard Chartered “The BoJ is likely to maintain the policy balance rate at -0.1% and the 10Y yield target at c.0%. We see limited room and drivers for the BoJ to change its monetary policy stance.” ING “The BoJ is expected to leave policies on hold. Yet, there will be some interest here as the BoJ’s meeting is the first since Prime Minister Shinzo Abe’s resignation in late August, the event that might have fuelled speculation about even easier BoJ policy to soften the Covid-19 blow to the economy.” TDS “BoJ continues to implement its current array of policy measures but is unlikely to add to them. Pressure has arguably lessened, with Q3 activity picking up and a second wave of virus cases receding. As such, BoJ is likely to upgrade its economic assessment, albeit modestly, while continuing to highlight downside risks. Attention will focus on the LDP’s vote on the party leader.” Rabobank “Given that a change in PM hasn’t rocked markets it is unlikely that the JPY will take much lead from this week’s BoJ policy meeting. While there is some talk in the market that the BoJ may follow the Fed in announcing that it would be prepared to allow CPI inflation to overshoot its target, this would be little more than a pipe-dream. The BoJ has never hit its inflation target and increased slack in the economy will not be helping this cause.” Wells Fargo “We do not anticipate any further easing from the BoJ, though we see the risks as skewed towards some type of more accommodative policy.” Danske Bank “We expect it to keep its QQE with yield curve control framework unchanged and we will look for signs whether the BoJ might start to put more emphasis on developments on the labour market.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next ECB’s Schnabel: Monitoring incoming information carefully, including exchange rate FX Street 2 years The Bank of Japan (BoJ) will announce its Monetary Policy Statement on 17 September at 03:00 GMT. The market consensus is for the BoJ to stay on hold and as we get closer to the release time, here are the expectations forecast by the economists and researchers of six major banks regarding the upcoming central bank's meeting. As far as the yen is concerned, attention is on politics as Yoshihide Suga has officially assumed his position as Prime Minister, replacing his long-serving boss Shinzo Abe. Standard Chartered “The BoJ is likely to maintain the policy balance rate at -0.1% and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.