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Forex Flash: New BOJ to combine APP and scrap banknote rule? - Nomura

FXstreet.com (Barcelona) - Nomura strategist Yujiro Goto wonders whether the new BoJ leadership are about to introduce new rule.

He begins by noting that the first BOJ meeting after the change in leadership started today with the Bank widely expected to change its monetary policy framework, scrapping the banknote rule and consolidating two JGB buying operations. He adds that Governor Kuroda yesterday emphasized during his appearance at parliament that combining the asset purchases program and rinban operations would make it easier to understand the monetary easing and said he would consider scrapping the banknote rule. Goto believes that his clear comments on these structural changes just a day before the BOJ meeting suggest that these options are almost sure to be discussed at the meeting.

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