Headlines crossing saying the BoJ is likely to slash its GDP forecasts – from 4 days ago

Japanese media had the reports earlier, in brief:

• Bank of Japan is likely to revise down GDP forecasts
• May lower both Fiscal Year 25 and FY26 GDP forecasts to below 1%

Nikkei (gated) has more.

The Bank of Japan statement is due today. There is no specific time that the Bank announce. Its reasonable to expect it sometime in the 0230 – 0330 GMT window. The Bank is expected to keep the policy interest rate at 0.5%, analysts mainly citing the unpredictable US trade policy fuelling economic uncertainty domestically and in Japan, and more globally.

Indeed, the US is already looking like its in recession:

• US Q1 advance GDP -0.3% vs +0.3% expected

This article was written by Eamonn Sheridan at www.forexlive.com.