BoJ to ease as soon as July? - Nomura

We agree that weak inflation momentum and the JPY’s recent appreciation point to a strong possibility of a BOJ easing by July.

Key Quotes:

"Fundamentally, July may be better timing for a BOJ easing, as the Bank upgrades its economic forecast, uncertainty on the EU referendum disappears, and the Bank can monitor the July BOJ Tankan survey, while to surprise the FX market positively, a June easing would be better timing for the BOJ as only 17% of FX market participants expect a June BOJ easing."