The Bank of Japan meet July 15 and 16. Thursday and Friday next week.
The policy statement and the Bank's latest updated forecasts (in its Outlook Report) will be made Friday at the conclusion of the meeting (there is no firmly set time for the announcement, sometime between 0230 and 0330 GMT on Friday is a good bet).
Reports are the Bank is expected to slash this fiscal year's growth forecast in its latest projections.
Earlier this week the Japan Center for Economic Research said its assessment was Japan's gross domestic product dipped 0.04% on the month in May (using inflation adjusted data ... albeit not much inflation in Japan!).
- the second straight monthly decline, though marginal
- Consumption -0.7%
- Housing investment -1.1%
- capital investment by private companies +0.6%
- Exports -0.2%, imports -2.6%
- reduced production in manufacturing such as automobiles
- "Due to a shortage of semiconductors, passenger vehicle production may have begun to deteriorate"
Earlier this week there was mixed news, BOJ maintains assessment for 5 of 9 Japanese regions in latest economic report:
- two upgrades & two downgrades
In other news, Tokyo will be in a state of emergency right through its Olympics. The city has been dealt an awful hand with these Games and is making the very best of it in the circumstances.
