*** Bank desk views on today's BOJ.........>

BOJ VIEW: *** Bank desk views on today's BOJ MonPol decision:

- Commerzbank: Obviously, the BoJ is increasingly worried about the undesirable

side effects of excessive monetary easing. It cannot be ruled out that the 80

trillion target will be dropped from the BoJ statement in the foreseeable

future.

- Daiwa: The growth and inflation picture certainly appears weaker than the BoJ

projected. But a policy change seems very unlikely and, while downside risks

will be acknowledged, the BoJ will most likely maintain its constructive

baseline outlook.

- Nomura: Kuroda has previously talked about the ongoing tightening in the macro

output gap, and we believe he will state the view that the underlying uptrend in

inflation will remain. We believe Kuroda will state his position that intentions

with regard to changes to monetary policy are not reflected in daily market

operations and that the BOJ will persist with monetary easing.