The Bank of Japan is unlikely to make any changes to its policy stance at its November meeting next week. The two main policy options available are a further increase in the size of the Bank’s Asset Purchase Program (APP) and an extension to the maturity of eligible assets. After increasing the size of the APP by ¥5 trillion in October, there is little chance there will be a repeat just three weeks later. And extending the maturity of assets is off the cards as this was discussed and rejected at the last meeting.
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