Don’t expect much from the Bank of Japan policy meeting on Thursday, Tokyo local time.
BOJ Deputy Governor Kikuo Iwata said last Friday that the Japanese central bank remains committed to its 2 percent inflation target. While downside risk has emerged with the weaker global economy, Iwata, a proponent of aggressive monetary easing, vowed the BOJ will maintain its ultraloose monetary policy until that target is reached.
The BOJ doubled the monetary base and boosted purchases of government bonds last April. Since July, the dollar has traded in a 5 yen range between just over 100 and 95.70 since early July. There will be a breakout but not on this BOJ meeting.