BOJ policy change is likely to be to YCC ... but not today

As I posted earlier:

There is no firmly scheduled time for the BOj statement. It is reasonable to expect it in the 0230 to 0330 GMT time slot.

Previews:

• Bank of Japan policy decision coming up on Friday 17 June - preview
• Red-headed stepchild, the BOJ, will issue its latest policy statement on Friday.

After Thursday's shock rate hike from the Swiss National Bank:

• SNB surprises with 50 bps rate hike, bringing policy rate to -0.25%

traders are on edge awaiting similar from the Bank of Japan. The SNB is an example of NEVER ruling anything out in markets (and watch out for overconfidence in making predictions). Having said that I'd be urging you not to hold your breath waiting for a 50bp rate hike from the Bank of Japan.

Yeah, the SNB shock overnight has cranked up interest in the Bank of Japan today.

This via ING (they expect no change today):

• according to several newswires, there is a split in policy expectations inside and outside Japan. Although the domestic consensus remains unchanged, overseas analysts are forming a consensus that the BoJ will widen the bandwidth for YCC or expand its bond-buying operation from 10Y to other maturities. We believe that the likelihood of such an option is growing, and the BoJ may shift its stance on the YC sometime in 2H, but not at today’s meeting.

I posted these a little earlier also:

Preview - BOJ monetary policy is expected to remain on hold - decision today