BOJ likely to push back expected timing for hitting its price target by several months -sources

Reuters with the headlines

  • BOJ likely to cut this fiscal year's core CPI forecast to below 0.5 pct next week from current 0.7 pct projection
  • BOJ likely to cut next fiscal year's core CPI forecast only slightly from current 1.9 pct projection
  • BOJ likely to cut this fiscal year's GDP forecast to around 1 pct from current 1.7 pct expansion
  • BOJ unlikely to make substantial changes to next fiscal year's economic growth forecast of 1.5 pct

More from Reuters:

  • The Bank of Japan will cut its growth and inflation outlook ... will only slightly tweak its projections for next year, sources said, possibly tempering expectations that the central bank will soon ease monetary policy further

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Reuters sources pouring cold water on the idea that the BOJ will do a Draghi next week and grant us more easing

This should be a yen positive.