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Sometime in the next couple of hours, the Bank of Japan is expected to to announce its next rate decision.This meeting, and the expectations of a an aggressive move, have been anticipated by traders (particularly currency traders) for a long time.
The expectation is that it will increase its inflation outlook to 2.0%, bringing it more in line with the goals of the new PM.
Anything else would be quite a shock.
In the meantime, the yen is a little bit stronger, as is the Nikkei.
We’ll have the full decision.