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For the first time since 2014, the Bank of Japan – the central bank of Japan led by Haruhiko Kuroda – has raised its projections for inflation growth.
However, reaching its 2% target remains a mirage.
The forecasts for the core consumer price index for fiscal 2021 were left unchanged at zero percent, but those for fiscal 2022 were raised by the estimated growth in October of + 0.9% at + 1.1%.
Estimates for fiscal year 2023 were raised from + 1% in October to + 1.1%.
Today, the Bank of Japan announced that it had confirmed the target for short-term interest rates at -0.1%, and the target for 10-year government bond rates around zero.