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Bank of Japan May Policy Survey

May 21 (Bloomberg) -- 26 of 27 economists surveyed by Bloomberg News predict no extra easing at the two-day meeting that ends on May 22. 16 economists predicted further easing in October.

   Take No Action This Meeting:
   Economist & Firm                                 Next Easing          Type
1  Masayuki Kichikawa                               Oct. 2013           ETFs,
                      Bank of America Merrill Lynch               Risk assets
2  Chotaro Morita                                   Oct. 2013      JGBs, ETFs
                      Barclays Capital              (possible)  
3  Ryutaro Kono                                     Oct. 2013     JGBs, ETFs,
                      BNP Paribas SA                                  J-REITs
4  Julian Jessop                                    Oct. 2013            JGBs
                      Capital Economics             
5  Kiichi Murashima                                 Oct. 2013     Mainly risk
                      Citigroup Global Markets Japan                   assets
6  Hideo Kumano                                     Not stated     Not stated
   Take No Action This Meeting:
                      Dai-Ichi-Life Research Institute
7  Mitsumaru Kumagai                                Oct. 2013     Mainly ETFs
                      Daiwa Institute of Research   
8  Maiko Noguchi                                    Oct. 2013            ETFs
                      Daiwa Securities              
9  Naohiko Baba                                     Oct. 2013      Not stated
                      Goldman Sachs Japan           
10 Izumi Devalier                                   After summer   Not stated
                      HSBC Securities Asia          
11 Yoshimasa Maruyama                               Oct. 2013      Not stated
                      Itochu Economic Research Institute
12 Masaaki Kanno                                    Oct. 2013/    Mainly ETFs
                      JPMorgan Securities Japan     Jan. 2014   
13 Yuichi Kodama                                    Oct. 2013      JGBs, ETFs
                      Meiji Yasuda Life Insurance   
14 Yuji Shimanaka                                   Not stated     Not stated
                      Mitsubishi UFJ Securities BCR 
15 Jun Ishii                                        Oct. 2013          Assets
   Take No Action This Meeting:
                      Mitsubishi UFJ Morgan Stanley Securities
16 Hajime Takata                                    Around Oct.    Not stated
                      Mizuho Research Institute     2013        
17 Yasunari Ueno                                    Not stated     Not stated
                      Mizuho Securities             
18 Naoki Murakami                                   Oct. 2013            JGBs
                      Monex Inc.                    
19 Yasuhide Yajima                                  Oct. 2013      Not stated
                      NLI Research Institute        
20 Naka Matsuzawa                                   Not stated     Not stated
                      Nomura Securities             
21 Takeshi Minami                                   Not stated     Not stated
                      Norinchukin Research Institute
22 Junko Nishioka                                   Oct. 2013     Risk assets
                      RBS Securities                
23 Akio Makabe                                      Not stated           ETFs
                      Shinshu University            
24 Mari Iwashita                                    July/Oct.           JGBs,
   Take No Action This Meeting:
                      SMBC Nikko Securities         2013          Risk assets
25 Kazuhiko Sano                                    Not stated     Not stated
                      Tokai Tokyo Securities        
26 Izuru Kato                                       Oct. 2013     Mainly ETFs
                      The Totan Research            
   Take Action This Meeting:
27 Hiromichi Shirakawa                              Not stated      Corporate
                      Credit Suisse Group                       bonds, J-REITs

To contact the reporters on this story: Masahiro Hidaka in Tokyo at; Isaac Aquino in Tokyo at; Toru Fujioka in Tokyo at

To contact the editor responsible for this story: Paul Panckhurst at

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