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26 Apr 2013
Forex Flash: The BOJ does not seem particularly confident of achieving its target - BBH
FXstreet.com (Barcelona) - Brown Brothers Harriman analysts feel that the BoJ does not seem particularly confident of achieving its target.
They add that in its updated outlook, it raised its core (excluding fresh food) CPI forecast, adjusted for the impact of the retail sales tax hike in 2014 and 2015 to 1.4% and 1.9%. In January, the BOJ forecast was that prices would rise by 0.9% in 2014. They finish by flagging that a Reuters poll earlier this week found a median expectation of 0.5% core CPI in 2014 and 1.0% in 2015.
They add that in its updated outlook, it raised its core (excluding fresh food) CPI forecast, adjusted for the impact of the retail sales tax hike in 2014 and 2015 to 1.4% and 1.9%. In January, the BOJ forecast was that prices would rise by 0.9% in 2014. They finish by flagging that a Reuters poll earlier this week found a median expectation of 0.5% core CPI in 2014 and 1.0% in 2015.