BOJ to raise inflation forecast and hold rates steady
The Bank of Japan is expected to raise its inflation outlook for the next fiscal year while keeping interest rates steady this month. Rising oil prices are exerting longer-than-expected price pressures on the economy, leaving room for a potential rate hike later this year.
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The Bank of Japan may lift its fiscal inflation outlook this month as rising Brent Crude Oil prices sustain economic pressure, people familiar with the matter said. The move follows last month's rate hike to 1.25%, a 31-year high for Japan.
