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Bank of Japan projects core CPI of 1.6% in fiscal year 2025/26

Published 04/28/2023, 12:12 AM
Updated 04/28/2023, 12:15 AM
© Reuters. FILE PHOTO: Shoppers check food items at a supermarket in Tokyo, Japan January 20, 2023. REUTERS/Issei Kato

TOKYO (Reuters) - The Bank of Japan on Friday projected the country's core consumer price index (CPI) to rise 1.6% in the fiscal year starting in April 2025, announcing the closely watched forecast for the first time.

© Reuters. FILE PHOTO: Shoppers check food items at a supermarket in Tokyo, Japan January 20, 2023. REUTERS/Issei Kato

BOJ watchers have been awaiting the forecast to gauge the central bank's perception of whether its 2% price target could be hit sustainably, which in turn would provide clues on the timing of an exit from its ultra-easy policy.

For the current 2023 fiscal year, the BOJ said it expects core CPI to hit 1.8%, versus its previous projection of 1.6%, and 2.0% in fiscal 2024, instead of 1.8%.

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