According to Japanese media outlet the Nikkei Asian Review, The Bank of Japan (BoJ) is likely to reduce their inflation forecast to 1.5% at their outlook meeting later this month.
The BoJ will be meeting on July 30th and 31st ahead of the release of their Outlook for Economic Activity and Prices report, and the Nikkei Review is reporting that the central bank is incredibly likely to reduce their inflation forecast looking forward, citing weakening inflation in recent months despite the BoJ’s statements that inflation has been nearing their 2% target.
The Nikkei continued that the BoJ dropped their FY 2019 by-line in April, and a downgrade in July would strongly imply that inflation targets are beginning to slip further out of reach for the BoJ.
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