Asian Economic Calendar for Friday, September 22, 2023: Anticipating the Bank of Japan Policy Statement

 

Asian Economic Calendar for Friday, September 22, 2023: Anticipating the Bank of Japan Policy Statement

In the upcoming week, market attention is primarily focused on the Bank of Japan's impending statement. The timing of this statement release is typically unannounced, but it's expected to fall within the 0230 to 0330 (GMT) timeframe (equivalent to 10.30 to 11.30 pm US Eastern time).

Anticipations for any significant policy changes from the Bank of Japan are currently quite subdued. The past week witnessed a few surprises from central banks globally, including the Federal Reserve's shift towards a more extended period of steady rates and the Bank of England's decision to hold rates steady in light of improved inflation data. Additionally, the Swiss National Bank made an unexpected decision.

While it may be optimistic to anticipate any unusual developments from the Bank of Japan, it's essential not to make assumptions. The inflation data set to be released prior to the statement will likely reveal 18 consecutive months of core Consumer Price Index (CPI) readings exceeding the target. However, the Bank has consistently attributed this to transitory factors and maintained its ultra-easy monetary policy stance. Nonetheless, there have been hints that the Bank's resolve on this matter might be wavering, so it's only a question of when (rather than if) the Bank adjusts its policy.

For a more in-depth look at the Bank of Japan's upcoming meeting, consider the following previews:

1. "BOJ Will Likely Maintain Current Policy at This Week's Meeting, According to Polls."

2. "Anticipating a Potentially Hawkish Tone in the BOJ's Statement: Insights for Tomorrow's Release."

3. "Expectations for the BOJ Meeting: Possibility of a Subtle Shift Towards a Less Dovish Stance, ANZ Suggests."

Stay informed with our ForexLive economic data calendar, accessible here, which provides timestamps in GMT and the prior month/quarter's results for reference.

Please note that to avoid confusion, we've marked data for New Zealand and Australia with explanatory text alongside their respective flags.