It is expected that the Bank of Japan (BoJ) raises the inflation forecast for fiscal year 2022 to slightly above 2%, from the current 1.9%, in the quarterly outlook report due on July 21, Reuters reported citing sources.
The BoJ is expected to cut its FY2022 economic growth forecast from the current 2.9% contained in its quarterly report. It will also warn about the risks of the global slowdown. The inflation expectations numbers will be published in said report.
The Reuters report indicates that the BoJ is likely to keep interest rates ultra-low and dovish.
The yen did not register major variations on Thursday and fell modestly, before an advance in the equity markets. USD/JPY is trading in the 136.00 area.
Source: Fx Street
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