BOJ To Cut Price Forecasts, Keep Rosy Economic View: Sources

www.oann.com | 7/29/2016 | Staff
Emzah92 (Posted by) Level 3
TOKYO (Reuters) – The Bank of Japan is expected to cut its inflation forecasts at next week’s rate review, sources say, a sign slumping oil prices and a darkening global economic outlook are heightening challenges for hitting its ambitious 2 percent target.

But the BoJ is likely to maintain its upbeat assessment that Japan’s economy will keep expanding moderately as global growth is expected to emerge from a soft patch later this year, the sources familiar with the central bank’s thinking, told Reuters.

Oil - Prices - BOJ - Projections - October

“Oil prices have fallen significantly since the BOJ’s previous projections in October and that will affect its upcoming forecasts,” one of the sources said.

“But the underlying trend inflation remains solid,” the source added, a view echoed by three more sources.

Bank - Settings

The central bank is widely expected to keep monetary settings unchanged at its...
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