Reuters reports, citing sources familiar with the situation
The report says that the BOJ is expected to slash this fiscal year's growth forecast in its latest projections next week, as another state of emergency for Tokyo threatens to dent consumption and general economic activity.
Adding that the BOJ is to stick with the view that the economy is headed for a moderate recovery. As for inflation, the sources say that the central bank is likely to revise up this fiscal year's inflation forecast to reflect the recent boost in energy prices.
Just a bit of a heads up before the BOJ policy meeting decision next Friday on 16 July as these leaks tend to prove to be credible most of the time.