BOJ likely to raise inflation forecast to near 2% but reaffirm easy policy - report

The report says that the BOJ will raise its inflation forecast for the current fiscal year to near 2% later at this month's policy meeting amid a surge higher in global commodity costs, resulting in higher energy and food inflation.

That said, the Japanese central bank will continue to bunker down on the need to keep monetary policy ultra-loose in order to bolster the economic recovery from the pandemic.

The sources say that the BOJ will likely lift its core consumer inflation forecast to above 1.5% from the current estimate of 1.1%.

The BOJ will next meet on 28 April.