The Bank of Japan Summary of Opinions for July 30/31 meeting is due at 2350GMT
The 'Summary'
- precedes the Minutes
- We won't get those for a number of weeks (September 25 if you'd like to market your calendar)
- The 'Summary' is sort of a Minutes 'Lite', a good guide to the discussion that took place
There were a number of changes in July, the biggie was:
- BoJ to allow 10bp wider fluctuation around the 0% target for 10yr JGBs
Much has been made of the shifts in rhetoric for the bank. for example:
I would caution that the big takeaway from the meeting was the BOJ is still maintaining a very, very accommodative policy, for a long time to come. Don't lose sight of this in the nuance-divining that is going on. For me, 'lower for longer' is a yen negative
Anyway, more 'colour' on the decision should be apparent with the Summary release today.
