Analysts at Nomura expect the BOJ to leave monetary policy unchanged. Key Quotes “On 20-22 July, a number of media outlets including Jiji Press and Reuters reported that the BOJ could discuss adopting a more flexible monetary policy. However, in view of the increased focus on the side effects of the current easing policy on earnings at financial institutions, we think all that will happen at the upcoming meeting is that methods of making adjustments toward a more flexible monetary policy will be debated and considered, and that there will be no immediate change in policy.” “In the Outlook for Economic Activity and Prices (Outlook Report), which will be released at the same time, we think the main focus will be on an analysis of the factors behind the inflation rate remaining lackluster.” “We forecast the core inflation projections for FY18 and FY19 (excluding the effect of an increase in the consumption tax rate) in the Outlook Report will each be lowered by 0.3pp. We think the projection for FY20 will be maintained at +1.8%, as in the April Outlook Report.” “We forecast that the projection for GDP growth in FY18 will be lowered slightly, reflecting the decline in January-March 2018 and the carryover effect from that, but that the growth projections for FY19 and FY20 will be maintained.” “A key point is how the above debate related to taking a more flexible approach to monetary policy is described in the post-meeting statement (or sometimes in the Outlook Report), including whether it is actually mentioned.” “Similarly, a key point in the governor’s post-meeting press conference will be how specific his statements are on what was discussed about adopting a more flexible monetary policy and specific ways to do this.” “We think these points will also be a litmus test for gauging when a decision will be taken to change the guideline for market operations to pave the way toward a more flexible approach to monetary policy.” 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 FX option expiries for July 30 NY cut FX Street 5 years Analysts at Nomura expect the BOJ to leave monetary policy unchanged. Key Quotes "On 20-22 July, a number of media outlets including Jiji Press and Reuters reported that the BOJ could discuss adopting a more flexible monetary policy. However, in view of the increased focus on the side effects of the current easing policy on earnings at financial institutions, we think all that will happen at the upcoming meeting is that methods of making adjustments toward a more flexible monetary policy will be debated and considered, and that there will be no immediate change in policy." "In the Outlook for… 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.