BOJ to stand pat next week, may extend covid aid

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The Bank of Japan (BOJ) is widely expected to keep its monetary policy settings untouched next week’s meeting. However, the central bank is seen extending aid for pandemic-hit businesses as the country’s coronavirus fight continues, a Bloomberg survey of 44 economists showed on Thursday.

Key findings

“Some 89% of 44 economists surveyed by Bloomberg see the BOJ keeping in place its negative interest rate and asset purchase settings, with most seeing no change for the foreseeable future.”

“Around 60% said they expect the bank to prolong its Covid-era lending measures past the current expiration in September. “

“Another 39% said they see the bank making the move next month, instead.”

“Around two-thirds of surveyed economists said the yen would likely weaken further once the Fed actually starts tapering.”

“On the question of when Japan would vaccinate enough people to eliminate the need for more virus emergencies, half of respondents said they expect that to happen by the end of October.”

“About a fifth of them don’t see it happening until next year.”

Source fxstreet

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