The Bank of Japan is set to keep monetary policy steady next week, as receding f...
TOKYO - The Bank of Japan is set to keep monetary policy steady next week, as receding fears of a disorderly Brexit and signs of progress in U.S.-China trade talks take some pressure off the central bank to use its dwindling ammunition to underpin growth.
A decision to stand pat would put the Japanese central bank in line with the U.S. Federal Reserve and the European Central Bank, which have both signaled that monetary policy will be in a holding pattern for the time being. But it is likely to roughly maintain its view that Japan’s economy continues to expand moderately as a trend, blaming the weakness in output on typhoons that disrupted deliveries of supplies, they said.
In its assessment made in October, the BOJ said factory output is flat and domestic demand is increasing. It is also seen maintaining a guidance that commits to keeping rates at current low levels, or even cut them, until risks threatening achievement of its 2% price goal subside. While BOJ Governor Haruhiko Kuroda has repeatedly voiced readiness to easing further, many analysts say the hurdle for action is high given the strain prolonged ultra-low rates is inflicting on financial institutions.
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