Japan media, Nikkei, says the BOJ will revise its CPI forecasts today:
- The Bank of Japan will revise its forecast for the rate of increase in the consumer price index (excluding fresh food) through fiscal 2025, and will assess the sustainability of the virtuous cycle between wages and prices.
The Bank of Japan policy meeting is today:
Bank of Japan Governor Ueda press conference will follow at 0630 GMT, which is 0130 US Eastern time.
The Bank will release a new 'Outlook' report along with its statement today. The report is a significant publication from the BoJ.
- This report is formally known as the "Outlook for Economic Activity and Prices," and it is released quarterly, typically in January, April, July, and October.
- The report offers detailed insights into Japan's economic conditions, focusing on aspects such as growth, inflation risks, and labor market conditions. It represents the collective outlook of the nine members of the Bank of Japan's policy committee.
- These insights play a significant role in shaping the country's monetary policy.
- In each report, the Bank of Japan assesses and forecasts economic activities and prices
If CPI forecasts are jacked up higher it lays the groundwork, even further, for a policy pivot from the Bank in the monehts ahead. The Bank is awaiting wage negotiation results from the Spring round of wage talks in Japan.
