TOKYO : The Bank of Japan (BOJ) is expected to maintain ultra-loose monetary policy next week and its forecast for a moderate economic recovery, as robust corporate and household spending cushion the blow from slowing overseas demand, sources said.The central bank also may signal that inflation is oversho
TOKYO : The Bank of Japan is expected to maintain ultra-loose monetary policy next week and its forecast for a moderate economic recovery, as robust corporate and household spending cushion the blow from slowing overseas demand, sources said.
Ueda told parliament on Friday that corporate price-setting behaviour was showing changes that could work to push up inflation more than expected. At a two-day policy meeting ending on June 16, the BOJ is likely to maintain its -0.1 per cent short-term interest rate target and a 0 per cent cap on the 10-year bond yield set under its yield curve control policy, the sources said.
While the BOJ will not produce fresh inflation forecasts next week, it may signal that inflation is overshooting initial projections - possibly at Ueda's post-meeting briefing, the sources said. An index stripping away the effects of both fresh food and fuel - closely watched by the BOJ as a barometer of domestic demand-driven price trends - rose 4.1 per cent in April from a year earlier, the fastest pace in four decades.
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