Well, we suppose you can’t really blame them. After all, every attempt to achieve Kuroda’s elusive 2% inflation target and thus drag Japan out of the deflationary doldrums has thus far failed miserably…
…so it’s only a matter of time before you have to throw in the towel or at least kick the proverbial can.
Sure enough, just across the terminal:
- Bank of Japan is considering cutting its CPI forecast for fiscal 2017 to low 1% range from the current 1.7%, Sankei reports, without attribution.
- BOJ to release forecasts Nov. 1
Below find the full story, translated
Bank of Japan is in the “Outlook for Economic Activity and Prices (outlook report)” to publish on November 1, went into the study to be revised downward the inflation rate outlook for the 2017 fiscal year. Be adjusted in the direction to lower from the previously announced (July 31) 1 – 7% of the time to 1 percent the first half. Possibility of achieving time also put off of 2% of the price target that you are “in the 29 fiscal year” it came out.
The yen and crude oil weaker, consumer spending sluggish growth and factors. Consumer of August (excluding fresh food) price index has sunk into negative territory in the 6 consecutive months year-on-year 0, 5% decline.
September of companies of price outlook, inflation rate expected after one year of full-scale all industries includes weak such as 0, 1 point decline from an average of 0.6 percent and the previous June survey.
In the outlook report in July, while lowering the growth rate forecast of 28 fiscal year to 0, 1% from 0, 5% of the April, 29 fiscal year is also, such as the effect of large-scale economic stimulus measures by the government laid out, “prices rise to towards “the decision, it affirmed the 1-7%.
Bank of Japan is also likely to go ahead on additional monetary easing in monetary policy decision meeting of October 31 to November 1, “ahead of the US presidential election, the Bank of Japan movement difficult” from the economists out the voice of the there.
Only one thing to say…