FXStreet reports that Senior Economist at UOB Group Alvin Liew assesses the latest BoJ monetary policy meeting.

“The Bank of Japan (BOJ), as widely expected, decided to keep its policy measures unchanged at its Monetary Policy Meeting in September. The main policy decision was again not unanimous. For the economic outlook, the BOJ also kept its cautious recovery outlook but downgraded its assessment for exports and factory output.”

“The September MPM and Japan’s current CPI inflation trend reinforces our view that the BOJ will not be tightening anytime soon and will maintain its massive stimulus in the next few years, possibly at least until FY2023. Markets for some time have been convinced that the BOJ has reached the end of the line on normalization and will remain in a holding pattern on policy until at least April 2023 when Governor Kuroda is scheduled to leave the BOJ.”