BoJ cuts inflation outlook to zero as it holds rates
Producer price inflation in Japan is at a 13-year high, but CPI inflation lingers around zero
The Bank of Japan cut its full-year forecast for inflation to zero at its policy meeting today (October 28), down from the 0.6% it projected in July.
The policy board kept the short-term interest rate unchanged at -0.1% in an 8–1 vote. Long-term dissenter Goushi Kataoka pushed for a cut, the October monetary statement shows.
Projected inflation, excluding fresh food prices, was revised down because of a rebasing of the index, said the central bank’s outlook report. The forecast covers the
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