This night: Bank of Japan monetary policy statement!
Dear traders,
The last day of July, Tuesday, will please with a rich calendar. In particular, the GDP of the eurozone and Canada’s GDP will be published, and also, preliminarily, at 5:30 am Bank of Japan monetary policy statement will be published. And at 9:30 there will be a press conference of the Bank of Japan.
According to analysts’ forecasts, as the results of its meeting on Thursday, the Bank of Japan will begin to prepare the markets for some changes in its unique ultra-soft monetary policy.
Last week press reports that the Bank of Japan is considering the possibility of changing its financial incentive program in order, for example, to allow more significant interest rate fluctuations and expand the choice of redeemable bonds.
These changes, albeit small, will be the first since 2016 and become a new signal that the Governor of the Bank of Japan Haruhiko Kuroda is gradually withdrawing from its radical financial incentive program, introduced five years ago in order to force market players to abandon the deflationary sentiment.
After five years of massive infusion of money into the economy of the country was not allowed to accelerate inflation, the Bank of Japan was under pressure, as the continuation of a soft monetary policy costs more and more. Banks are suffering losses due to close to zero interest rate and may require its increase. (Investing.com)
Have a good evening, Ladies and Gentlemen!
Tomorrow we will have a productive day!
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