BOJ to cut its CPI forecasts

As per Reuters report, Bank of Japan (BOJ), in its next quarterly report, is likely to cut its Financial Year 2017/2018 consumer price index (CPI) forecast to lower1% zone from the current target of 1.7%.

This should not come as a surprise given the persistent strength in Yen is likely to have disinflationary impact. Meanwhile, report also suggests the central bank would push back the time target – time required to achieved 2% inflatioin target.