Preview – Financial institution of Japan assembly this week – no change to coverage anticipated

Citi on the Financial institution of Japan assembly this week (October 30 – 31). The market view is for no change to coverage at this assembly.

Citi, too, is tipping no coverage change.

• we share the broadly held view that coverage will likely be left unchanged
• consensus is a fee hike in both December or January

Citi are forecasting December

• we don’t anticipate the BoJ to sign for it vigorously in October given uncertainty across the approaching US election and payroll information
• BoJ will doubtless emphasize the continued development of fee hikes whereas pointing to exterior uncertainty

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I think the Japanese election outcome final weekend could shift views to January for the following BoJ fee hike quickly sufficient.