BOJ meets Oct 3031, decision expected 03300430GMT Thursday
Board likely to keep shortterm rates steady at 0.25
No big change expected to growth, inflation forecasts
BOJ may modify view on risks, may signal progress on wage front
Governor Ueda to brief media 0630GMT Thursday

WASHINGTON, Oct 25 Reuters The Bank of Japan is set to maintain ultralow interest rates next week, and probably signal a less dovish policy outlook due to receding fears of U.S. recession and the need to keep speculators from pushing down the yen too much.

Since ending a decadelong, radical stimulus programme in March, the BOJ has signaled its intention to keep raising interest rates from rockbottom levels. But it was forced to water down the hawkish message and pledge to move slowly, or even pause, in raising rates after a hike in July was blamed for triggering a rout in markets.

While the BOJ appears in no rush to hike rates, any tilt back towards a less dovish stance would underscore its desire to leave itself wiggle room on the timing of the next move, analysts say.

It may also help prevent the yen, which has renewed its decline recently, from testing further lows and hurting already weak consumption by pushing up fuel and food import costs.

As the yen is falling again, the BOJ will probably try to avoid sending a message that would appear too dovish, said Ryutaro Kono, chief Japan economist at BNP Paribas.

At the twoday meeting ending on Oct. 31, the BOJ is widely expected to keep…