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Smaller risk of sudden changes in BOJ's policy stance - Nomura

FXStreet (Bali) - According to Nomura, there is a smaller risk of sudden changes in the BOJ's policy stance in the months to come, following yesterday's BoJ policy meeting and the subsequent press conference by Governor Kuroda.

Key Quotes

"Overall, there were no significant changes in the BOJ’s policy stance and Governor Kuroda on Wednesday, even after rapid market movements following the latest easing and the government’s decision to delay the tax hike."

"We expect the BOJ to keep its policy unchanged for the time being, while the current pace of asset purchases is already significant."

"His neutral stance on the government's decision to delay the tax hike and the smaller number of dissenters today suggest a smaller risk of sudden changes in the BOJ's policy stance, in our view."

"We expect the BOJ's policy stance to remain JPY negative, and low JGB yields to encourage Japanese investors to shift from JGBs into risky assets, including foreign assets."

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