Bank of Japan to raise inflation forecasts, reports say

Bank of Japan
The Bank of Japan

The Bank of Japan will likely raise its inflation projections for fiscal year 2023 and 2024, according to media reports.

The news reinforced some observers’ expectations that the central bank would pivot away from ultra-loose monetary policy.

The BoJ will likely raise its core consumer inflation forecasts to around 3% in fiscal 2022, at least 1.6% but less than 2% in 2023, and nearly 2% in 2024, said Nikkei Asia. Core CPI excludes fresh food prices but includes energy costs.

In October, the

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