BoJ to raise forecasts for key inflation gauge in quarterly outlook report – Reuters

Citing three sources familiar with its thinking, Reuters reported on Thursday that the Bank of Japan (BoJ) is likely to raise fiscal 2022 and 2023 forecasts for the core Consumer Price Index (CPI) in its new quarterly projections.

Additional takeaways

Increasingly focused on core CPI in gauging price trend.

Upward revision in BoJ’s price forecasts unlikely to trigger immediate interest rate rise.

BoJ may also slightly revise up core CPI forecast for fiscal 2024, depending on wage prospects.