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The probability of the Bank of Japan (BOJ) easing further has increased after its July policy meeting, according to 21 of 38 economists in the Aug. 2-13 poll by Reuters.

Last month, the BOJ said it would ease policy “without hesitation”  if external risks derail the progress toward the 2% price objective.

Key points (source: Reuters)

12 economists predicted that further easing would happen as early as September and ten forecast October.

Fourteen economists forecast the BOJ would allow for greater fluctuation in the 10-year Japanese government bond yield.

Three economists predicted the central bank would further lower its negative interest rates.

25 of 37 economists predicted a level below 100 yen to the dollar will cause the BOJ to ease further.