There is practically no chance that the BOJ changes policy. BOJ shares the common dilemma among major central banks. Growth is ok--above trend, which in Japan is seen as about 0.8%, but price pressures remain weak. The core rate in Japan, which excludes fresh food, is up 0.5% year-over-year. The target is 2%. The BOJ and SNB are widely understood to be laggards in the long drawn out process of normalization. There have been two recent developments to note in this context. First, Abe looks posed to call as snap election, which the LDP and he will most likely win, which is why the election would be called early in any ... (full story)