BOJ Monetary Policy Navigator

BoJ seen reaffirming path to 2% price target at April meeting

• We expect BoJ will leave target for overnight call rate unchanged at "around 0% to 0.1%" and make no revisions to its bond purchase guidelines when it meets next week
• Bank seen reaffirming path to achievement of 2% price target and presenting outlook for core CPI inflation of "about 2%" in FY26
• We do not think BoJ will signal another rate hike but would be concerned if it claimed that risks to price outlook are now "skewed to upside"