*** Bank desk views ahead of today's.......>

BOJ VIEW: *** Bank desk views ahead of today's MonPol decision 2/2

- Deutsche Bank: We expect the BoJ to maintain its current policy stance, even

with two new Deputy Governors participating in the meeting for the first time.

They expect that the Outlook Report will reaffirm the previous forecasts for

real GDP growth and core CPI inflation in FY18 and FY19.

- Nomura: We expect the BOJ to leave monetary policy unchanged. At the

governor's post-meeting press conference, we expect questions on the JPY80trn

annual JGB purchase target, the need to continue ETF purchases, and the

possibility of raising the target for long- and short-term interest rates under

YCC. With the new line-up of deputy governors we are interested - from the

perspective of gauging the policy stance - to see whether or not the tone of

their answers to these questions changes.

- TD: The BoJ is in no rush to tighten policy given benign inflation, soft

household spending and weak wage growth. Nonetheless, the BOJ may be encouraged

by the fact that headline and core CPI are creeping higher. Although in no rush

the BoJ is discussing potential exit opens.