The two-day Bank of Japan monetary policy meeting is on July 19 and 20
- In addition to the policy announcement (spoiler - no change is expected) the Bank will update its economic assessment in its latest "Outlook" report
Goldman Sachs (in brief) on what to expect:
- We expect the BOJ to maintain current monetary policy at its July 19-20 monetary policy meeting
- On July 7, the BOJ offered to buy an unlimited amount of JGBs, thus keeping the 10-year rate at 0.1% or lower
- We see this as a strong signal from the BOJ that it intends to continue a wait-and-see approach, sitting tight until US rates rise significantly
- We also think the BOJ is highly likely to lower its inflation outlook for FY2017 in the quarterly Outlook for Economic Activity and Prices
