This summary is via the folks at eFX.
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ANZ Bank expects no change to the Bank of Japan's (BoJ) monetary policy in the upcoming meeting but anticipates a subtle shift in the central bank's language.
The BoJ is likely to drop its previous guidance of being open to additional easing measures.
Key Points:
- No Policy Change Expected: ANZ anticipates that the BoJ will maintain its existing monetary policy framework for the time being.
- Guidance Shift: Governor Ueda is likely to emphasize a data-driven approach, indicating a move away from the bank's earlier 'behind-the-curve' strategy.
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If ANZ are correct and the Bank does shift to less dovish it should be supportive of the yen at the margin.
The Bank of Japan statement is due Friday some time in the 0230 to 0330 GMT time window.
Bank of Japan Governor Ueda walking a tightrope