This was around late Thursday but getting a bit more attention again today.
The Bank meet next week (Statement to be issued July 30) and there is no BOJ consensus on the next move. Some officials in the Bank point to robust domestic demand making up for weak exports and thus no case for an imminent move. Others argue standing pat risks a yen spike, although the risk of this diminished with the ECB remaining on hold overnight.
A compromise could be a tweak to forward guidance. But, the downside is markets may perceive this as the BOJ admitting they are conserving ammunition.
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FWIW I am an 'on hold' for the BOJ next week. And I ain't buying that the BOJ is out of ammo - very creative they are when it comes to generating further easing options they are.
