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MNI BRIEF: BOJ Ups FY22 CPI View To +2.3%, Cuts GDP To +2.4%

(MNI) Tokyo
TOKYO (MNI)

The Bank of Japan board on Thursday upgraded its forecast for the core consumer price index this fiscal year to +2.3% from +1.9%, but lowered real economic growth forecast to +2.4% from +2.9%, the BOJ’s Outlook Report released on Thursday showed.

The board’s median forecasts for inflation rate and real GDP in fiscal 2023 were +1.4% and +2.0%, revised from +1.1% and +1.9% made in April, respectively. The higher inflation view this fiscal year is due mainly to the impact of the yen’s fall, the rise in commodity prices and corporate cost pass-through.

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The Bank of Japan board on Thursday upgraded its forecast for the core consumer price index this fiscal year to +2.3% from +1.9%, but lowered real economic growth forecast to +2.4% from +2.9%, the BOJ’s Outlook Report released on Thursday showed.

The board’s median forecasts for inflation rate and real GDP in fiscal 2023 were +1.4% and +2.0%, revised from +1.1% and +1.9% made in April, respectively. The higher inflation view this fiscal year is due mainly to the impact of the yen’s fall, the rise in commodity prices and corporate cost pass-through.

Keep reading...Show less