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***Morgan Stanley MUFG Securities has pushed....>

BOJ: ***Morgan Stanley MUFG Securities has pushed back expectations for when it
expects the BoJ to widen the corridor it allows Japanese 10-Year yields to
operate in. MSMUFG now expects the BoJ to adjust its 10-Year bond yield target
in Q119 (prev. Q318) following the recent Dep. Gov. appointments at the BoJ.
- MSMUFG now expects the BOJ to change the target to "around 0.15%" from the
current "around 0%," interpreting around 0.15% to mean a band from 0%-0.3%.
- MSMUFG forecasts that CPI (core-core, which excludes fresh food and energy)
will reach 1% in Q119, as the stronger JPY has pushed back its expectations for
attaining 1% core-core CPI.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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