As reported by the Japanese Nikkei Asia Review, the Bank of Japan (BoJ) could be considering cutting its inflation forecast further, after taking off the target date for achieving its 2% target back in April.
Key quotes
“The Bank of Japan “¦ could downgrade its price forecasts for fiscal 2018 and later.
At a two-day meeting starting June 14, the central bank is expected to explore the root causes of slow price growth. Discussions there will be reflected in the BOJ’s next quarterly outlook on the economy and prices, slated for release in late July.
Particularly slow growth in April, when companies tend to adjust prices for a new fiscal year, surprised many at the central bank.
Downgrades for fiscal 2019 and beyond will be considered as well.”
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