Bank Japan's Yield Curve Control Tweak

It seems that expectations have picked up again in the market for a change of policy. Has the Bank Japan seen enough to warrant so? Well, actually our health view says the July meeting, WYCC tweak is possible, but we do not see it very certain. The side effect of the ultra loosening metric policy itself has not been really different between the last time's metric policy meeting and this time. There is essentially no clear catalyst for B.O.J. to tweak the YCC policy this time.