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17 Dec 2013
Flash: BoJ likely to stay on hold at 19-20 December meeting but… - BAML
FXstreet.com (London) - Research strategists at Bank of America Merrill Lynch explained that they expect the Bank of Japan's forthcoming monetary policy meeting on 19-20 December to conclude with no change in its current monetary policy.
Key Quotes:
“Judging by data and events since the last policy meeting on 20-21 November, we doubt the BoJ has made any significant changes to its assessment of the economy or prices since then”.
“Even though long-term interest rates have moved slightly higher, 10-year JGB yields are still holding steady at 0.6%”.
“Likewise, although FX and stock-market fluctuation has increased somewhat, the yen weakened to ¥102-103/US$ and the Nikkei 225 also returned to the 15,000 mark. We therefore see no urgent need for the BoJ to make any changes in monetary policy this time round”.
Key Quotes:
“Judging by data and events since the last policy meeting on 20-21 November, we doubt the BoJ has made any significant changes to its assessment of the economy or prices since then”.
“Even though long-term interest rates have moved slightly higher, 10-year JGB yields are still holding steady at 0.6%”.
“Likewise, although FX and stock-market fluctuation has increased somewhat, the yen weakened to ¥102-103/US$ and the Nikkei 225 also returned to the 15,000 mark. We therefore see no urgent need for the BoJ to make any changes in monetary policy this time round”.