Bank of Japan says CPI YoY growth may accelerate to a rate clearly above 2%.

SOMPO senior economist Masato Koike says markets should focus on how much the Bank of Japan signals about the future pace of rate hikes and whether a Middle East peace deal alters that outlook. He expects the BOJ to signal a hawkish tilt at today's press conference but cautions Deputy Governor Uchida rarely leaves room for clear guidance, so the bank may signal hawkish intent without providing precise forward guidance.

Brent crude fell 2.00% intraday to $81.25/bbl. WTI fell $2.00 to $79.39/bbl, down 2.46%.