Bank of Japan (BoJ) will early tomorrow morning CET announce its decisionfrom this week’s monetary meeting. Overall data for July has continued todisappoint, suggesting that the recovery has been weaker than expected in thewake of the consumption tax hike in April.. In our view, BoJ is unlikely toannounce any new easing measures tomorrow, but we expect the statement to bemore dovish, particularly underscoring increasing downside risk from theconsumption tax hike.
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