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MNI BRIEF: BOJ Minutes say CPI To Disappoint On Projections

(MNI) Tokyo
MNI (Tokyo)

A few Bank of Japan board members said it was unlikely that CPI inflation (excluding food) would sustainably reach 2% within the Bank's projection period that stretches to 2024, minutes of the July 20-21 policy meeting released Wednesday showed.

The member agreed that “the year-on-year rate of change in the CPI (all items less fresh food) was likely to increase toward the end of 2022 due to rises in prices of such items as energy, food, and durable goods,” the minutes showed. (See MNI Brief: BOJ's Kuroda Sees Easy Policy Lifting Demand, Wages).

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A few Bank of Japan board members said it was unlikely that CPI inflation (excluding food) would sustainably reach 2% within the Bank's projection period that stretches to 2024, minutes of the July 20-21 policy meeting released Wednesday showed.

The member agreed that “the year-on-year rate of change in the CPI (all items less fresh food) was likely to increase toward the end of 2022 due to rises in prices of such items as energy, food, and durable goods,” the minutes showed. (See MNI Brief: BOJ's Kuroda Sees Easy Policy Lifting Demand, Wages).

Keep reading...Show less