Bank of Japan monetary policy likely to remain unchanged

The Bank of Japan’s Monetary Policy meeting minutes were released late on Tuesday, along with the Services Producers’ Price Index. The latter was slightly below expectation and the meeting suggested that monetary policy will remain unchanged, despite Japan’s growth declining 0.8% in the three months from July to September. Yesterday was quiet for Japan with no economic data out, but today we see the release of household spending and Tokyo core inflation data. Both are expected to be slightly better than last month’s figures – any surprises could affect the Japanese yen.

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