BOJ: Expect expansion of the targeted JGB yields – Nomura

Key Quotes:

“Probability high the BOJ will expand the targeted 10-year JGB yield range to about 30 basis points either side of zero, from around 20bps currently.

Change could be announced in Kuroda's press conference rather than in the policy statement (like was done in July 2018).

Low probability BOJ further cuts its negative short-term rate, but likely to discuss the possibility of doing so in the future.”