BoJ review dissects inflation expectations

Economists find ‘substantial’ dispersion in inflation expectations


There is a "substantial" dispersion in inflation expectations among Japanese households, but the share of the population expecting 2% has "spiked" in the past year, according to the latest Bank of Japan review, published today.

Three members of the BoJ's monetary affairs department – Shusaku Nishiguchi, Jouchi Nakajima and Kei Imakubo – attribute the disagreement across households to "differences in the information [they] refer to when forming their expectations".

Nonetheless, the authors deduce

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