10 Investment Banks Look Forward To The BOJ's Interest Rate Decision

JPMorgan Chase: The Bank of Japan may adjust the yield curve control to reflect the recent strong economic fundamentals, inflation near a 10-year high, real interest rates falling, and the current environment is more accommodative.
Standard Chartered Bank: The Bank of Japan is expected to keep its policy interest rate unchanged and does not rule out the possibility of expanding the yield curve control range. The bank may shift its focus to CPI rather than just economic growth.
ANZ Bank: It is expected that the Bank of Japan will maintain its policy unchanged. At a future meeting, it will shorten the term of the target government bond from 10 years to 2 years, and abandon YCC before and after completing a comprehensive evaluation of monetary policy.
TD Securities: The Bank of Japan is expected to maintain policy unchanged, but the possibility of adjusting the YCC range is much higher in July, when there will be a quarterly review, when inflation forecasts may be revised upwards.
Wells Fargo: It is expected that the Bank of Japan will maintain its policy unchanged. In October this year, it may adjust the yield curve control target from 0% to 0.25%, and the tolerance range will be expanded to the target value +/-75 basis points.
Citigroup: The Bank of Japan is expected to maintain policy unchanged, including the yield curve control (YCC) policy setting, and the bank may postpone the decision to adjust YCC until the July meeting.
Danske Bank: The Bank of Japan is expected to maintain policy unchanged, but it is expected to adjust the yield curve control (YCC) at a future meeting to expand the target tolerance range to 0+/-100 basis points.
Deutsche Bank: The Bank of Japan is expected to maintain its policy unchanged. There is no economic forecast this time. The bank is expected to continue to focus on downside inflation risks, emphasizing that inflation and exchange rates are one of the key catalysts for policy changes.
ING Group: The Bank of Japan is expected to maintain its policy unchanged and is unlikely to adjust the yield curve control policy. If inflation remains at the current level in the second half of the year, YCC may be adjusted in the next few months.
Nordic Union Bank: The Bank of Japan is expected to maintain policy unchanged, but still believes that the bank may implement monetary policy normalization, however, the risk is that it may not start until next year.

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