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BOJ October meeting: what to expect?

October Bank of Japan monetary policy decision will be announced in the Asian session on Friday. The announcement will be followed by the BOJ outlook report (Outlook for Economic Activity and Prices) at 6:00 GMT. What do analysts at Goldman Sachs expect from the Japanese central bank?

“Monetary policy will likely remain unchanged on the October meeting. We expect extensions in the quantitative and qualitative monetary easing scheme to be announced at the December meeting. The BOJ has clearly underestimated the effect of the consumption tax hike and needs to cut its FY2014 forecast sharply. However, we expect only a cut to +0.5% - +0.6% (consensus +0.3%) from the current +1.0% in the October Outlook Report”, Goldman projects.

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