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MNI BoJ Review - September 2021: As You Were

EXECUTIVE SUMMARY

  • The BoJ's September meeting was as bland as expected, with the Bank maintaining the status quo when it came to its monetary policy settings. Board member Katoaka deployed his typical round of dovish dissent when it came to the voting process.
  • The monetary policy decision and subsequent press conference did nothing to change expectations surrounding the broad direction of Japanese monetary policy over the foreseeable future, with ultra-loose policy unanimously expected amongst the sell side over the relevant forecast horizon.
  • The Bank maintained its overarching view of the economic situation, with some negative tweaks to the assessment surrounding industrial production and exports, as we suggested may be the case ahead of the decision.

Click to view the full review: MNI BoJ Review Sep 2021.pdf

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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