(Bloomberg) -- The Bank of Japan is likely to discuss raising its inflation projection for fiscal year 2023 and 2024 at its policy meeting later this month, ...
-- The Bank of Japan is likely to discuss raising its inflation projection for fiscal year 2023 and 2024 at its policy meeting later this month, extending the period in which it sees prices reaching or exceeding its 2% goal, according to people familiar with the matter.BOJ officials see the bank’s projection for its key inflation gauge — consumer prices excluding fresh food — likely being revised higher to 2% or more for the year starting in April, according to the people. That’s up from the 1.
The central bank is mulling its price views amid speculation over the future of monetary policy and heightened focus on the yen, as Japan’s currency remains near levels where authorities intervened to support it a year ago. In July, price projection revisions were accompanied by adjustments to the BOJ’s yield curve control program.
While Prime Minister Fumio Kishida’s decision to extend government programs to contain energy prices will exert a drag on inflation this year, it will be a factor that will boost price growth in the following year, the people said.
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