The Key Takeaways

"In stark contrast to its G7 peers the BoJ maintained its preference for easing ("it expects long-term and short-term policy interest rates will remain at their current or lower levels ")."

"Inflation is high due to an uncertain supply shock, while domestic demand remains weak. We are certain that the BoJ's current easy Monetary Policy will be maintained for 2022. It will also maintain its massive stimulus at least until FY2023."