Highlights
The Bank of Japan's nine-member board was scheduled to begin its two-day policy meeting at 2 p.m. JST on Wednesday, April 30 (0500 GMT/0100 EDT the same day). On the first day, board members compare notes on the economic and financial conditions in Japan and overseas for about two hours. They discuss the conduct of monetary policy on the second day from 9 a.m. JST (0000 GMT May 1, which is 8 p.m. EDT April 30) for over two hours. The bank is expected to announce the results of the meeting sometime between 11:20 a.m. and 1 p.m. JST on Thursday, May (0220 and 0400 GMT the same day/10:20 p.m. on April 30 and 0000 EDT on Friday, May 1).
The previous two-day meeting ended at 11:18 a.m. JST (0218 GMT) on March 19, which was 10:18 p.m. EDT on March 18, and the policy statement was released at 11:25 a.m. JST (0225 GMT/10:25 p.m. EDT). At the April 30-May 1 meeting, the bank will also release its quarterly Outlook Report, providing the board's medium-term growth and inflation projections.
Governor Kazuo Ueda is scheduled to hold a post-meeting news conference for about an hour from 1530 JST on Thursday, May 1 (from 0630 GMT/0230 EDT until 0730 GMT/0230 EST the same day).
The previous two-day meeting ended at 11:18 a.m. JST (0218 GMT) on March 19, which was 10:18 p.m. EDT on March 18, and the policy statement was released at 11:25 a.m. JST (0225 GMT/10:25 p.m. EDT). At the April 30-May 1 meeting, the bank will also release its quarterly Outlook Report, providing the board's medium-term growth and inflation projections.
Governor Kazuo Ueda is scheduled to hold a post-meeting news conference for about an hour from 1530 JST on Thursday, May 1 (from 0630 GMT/0230 EDT until 0730 GMT/0230 EST the same day).
Definition
The Bank of Japan’s nine-member policy board holds eight two-day Monetary Policy Meetings a year, in January, March, April, June, July, September, October and December. At each meeting, the board votes on the proposals on the bank’s monetary policy stance and the basic guideline on how to achieve the policy target submitted by the chair of the board, who is the bank governor. The board also votes on any proposals from other members. The first day of the meeting starts at 1400 JST and ends around 1600 JST. On the second day, the meeting begins at 0900 JST but no end time is set. It usually lasts for two and a half to three hours and can go on for a few more hours.
Description
Markets can move going into each meeting on expectations for a shift in the bank’s policy stance or tweaking of policy tools. If the meeting lasts longer than usual, speculation for a possible change in policy may arise in the markets.
