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BOJ watchers see July race entering into policy calculation

TOKYO -- The July upper house election will likely complicate the delicate decision the Bank of Japan will have to make when its policy board meets in mid-June, as its course of action could cast shadows over the poll's outcome.

"As a general rule, monetary easing is more likely to be announced at the July policy meeting," when the central bank updates its outlook for prices and Japan's economy overall, a source at a Japanese bank said. The BOJ insists that its monetary policy will not be swayed by electoral implications. But speculation persists that the central bank could hatch additional easing at its June 15-16 meeting ahead of the July race, given that Gov. Haruhiko Kuroda has been a chief advocate of the Abenomics economic program.

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