The Bank of Japan will likely revise up its inflation forecasts and discuss further tweaks to its bond yield control at its policy meeting on Tuesday, amid growing expectations the days of the controversial monetary tool are numbered.
newspaper reported on Monday that the BOJ would consider making adjustments to its yield curve control at the two-day meeting ending on Tuesday.
"JGB yields are already moving quite freely. Having them move even more freely won't lead to a big change in markets." Any such move would underpin the yen ahead of the U.S. Federal Reserve's expected decision to keep interest rates steady at its rate review on Wednesday. By allowing yields to rise more, the BOJ reduces the need to ramp up bond buying and load up its already big balance sheet.
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