![]() ![]() ![]() understands that your privacy is important to you and we are committed for being transparent about the technologies we use. Check Business Breaking News Live on Zee Business Twitter and Facebook. Get Latest Business News, Stock Market Updates and Videos Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Governor Ueda is expected to hold a news conference after the policy meeting. The BOJ now expects core consumer inflation to hit 2.0% next year, before slowing to 1.6% in 2025. But the more important forecasts for fiscal 20 will likely remain largely unchanged from current projections, sources have said, reflecting uncertainty over the fallout from slowing global growth. Nodding to broadening price pressures, the board is likely to upgrade its inflation forecast for the year that began in April from the current projection of 1.8%. The BOJ's quarterly growth and outlook report, due after the policy meeting, will offer clues on how convinced the central bankers are about prospects for durable inflation. That changed last year, when soaring commodity prices pushed inflation above the 2% target and gave investors reason to attack the yield cap.Īfter buying huge amounts of bonds to defend the then 0.25% ceiling, the BOJ last December widened the yield band and now allows the 10-year yield to rise by up to 0.5%. ![]() Since introducing YCC in 2016, the BOJ had little trouble controlling bond yields when inflation remained well below its target. The BOJ's meeting comes after the Federal Reserve's decision on Wednesday to raise interest rates, a move that further widens the interest rate gap between the United States and Japan.Īny tweak to YCC could help prevent further declines in the yen, which would hurt households and retailers by pushing up the cost of food and fuel imports. Data released on Friday showed core consumer inflation in Japan's capital slowed in July but remained well above the central bank's 2% target, underscoring rising price pressure. ![]()
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