The Bank of Japan is set to keep monetary policy steady and signal its cautious ...
TOKYO - The Bank of Japan is set to keep monetary policy steady and signal its cautious optimism over the global outlook on Tuesday, reinforcing market expectations that the rising cost of prolonged easing will keep the hurdle for further stimulus high.
A majority of economists recently polled by Reuters said the BOJ’s negative rate policy has had little positive impact on the economy, and that its next move would be to taper its massive stimulus as early as next year. While Kuroda may offer a slightly upbeat view on global prospects than last month, he is seen reiterating the BOJ’s resolve to keep policy ultra-loose to support a fragile recovery, analysts say.
It is also seen maintaining a guidance that commits to keeping rates at current low levels, or even to cut them, until risks keeping it from achieving its 2% inflation goal subside. BOJ officials hope the government’s $122 billion fiscal package and robust capital expenditure will offset the hit from soft global demand and supply chain disruptions from last year’s typhoons that continue to weigh on factory output.
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