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BoJ unlikely to bring notable change in policy - RBS

FXStreet (Bali) - Ahead of BoJ’s semi-annual Outlook Report on October 31st, RBS does not expect the BoJ to provide any major change in policy in today's meeting.

Key Quotes

"The Bank of Japan meeting appears unlikely to bring any notable change in policy settings ahead of the release of the BoJ’s semi-annual Outlook Report later this month (31 October meeting)."

"We look for a period of consolidation in USD/JPY following recent rapid gains, which have led to some complaints in Japan about the impact on local businesses."

"That being said, as the Finance Minister recently noted, the JPY has only returned to pre-Lehman crisis levels versus the USD. Therefore, we expect that this will eventually give way to renewed upside."

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