BoJ projects inflation will climb to 1% by mid-2022

Haruhiko Kuroda

Japan’s consumer inflation is projected to increase to 1% around the middle of next year as the output gap turns positive, said Haruhiko Kuroda, governor of the Bank of Japan.

The CPI is likely to climb to positive territory for now, driven by a rise in energy prices, the BoJ governor said in a speech delivered to business leaders on November 15. The latest projection is slightly more positive than that released as part of the BoJ’s October monetary statement.

Although the trend of increasing

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