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FXWire Pro Headline | January 21 2013 5:13 EST
Quotes from Standard Chartered:
-The Bank of Japan (BoJ) is scheduled to hold its next monetary policy meeting on 21-22 January. On the back of intensive pressure from the government, the BoJ expanded its Asset Purchase Program (APP) by JPY 10tn during its last meeting in December 2012 and disclosed that the board would discuss medium- to long-term price stability at its next meeting.
-Expanding the APP is the most likely result this time. Raising the inflation target, implementing 'open-ended' policies and issuing a policy accord with the government are also on the table. Meanwhile, during the meeting, the BoJ needs to review its GDP and CPI forecast for FY13 and is likely to revise up the inflation forecast slightly to reflect the impact of the stimulus plan (passed on 11 Jan 2013) and continued monetary easing.
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