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Bank of Japan officials are likely to consider raising their inflation forecast at their policy meeting this month, mainly to reflect elevated oil prices.
The BOJ’s board will likely discuss lifting its key price projection for this fiscal year from the current 1.9% after oil prices surged.
Officials will probably also consider lowering the economic growth forecast due to uncertainty over the Middle East conflict and its impact on the economy.
For now, there is a view that this isn’t the time to fuel speculation over a rate hike, as the situation in the Middle East remains fluid, according to the people. At the same time, there is another view that the bank needs to proceed with a rate hike to address upside inflation risks, the people said.
Disclaimer: This publication is for general informational and educational purposes only. It is not investment advice, does not take into account individual circumstances, and should not be relied upon for making investment decisions. The views expressed are solely those of the author and do not represent the views of any employer or affiliated institution.
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