BOJ: Won't hesitate to take extra action if needed
|Reuters reports the following headlines on the Bank of Japan’s (BOJ) economic assessment.
Medium core CPI forecast for fiscal 2019/20 at 1.0% versus 1.1% in April forecast.
Risks are skewed to the downside on economy.
Japan inflation is gradually to accelerate toward 2%.
Won't hesitate to take extra action if needed.
Won't hesitate to take additional easing of momentum to goal lost.
CPI currently at around 0.5%.
Fiscal year 2019 GDP forecast is 0.7% versus 0.8% previously.
Fiscal year 2020 GDP forecast is 0.9% versus 0.9% previously.
Fiscal year 2021 GDP forecast 1.1% versus 1.2% previously.
Sees fiscal year 2019 core CPI including sales tax at 1.0% versus 1.1% previously.
Sees fiscal year 2020 core CPI including sales tax 1.3% versus 1.4% previously.
Sees fiscal year 2021 core CPI forecast 1.6 versus 1.6 previously.
Cites uncertainty over medium, long-range price expectations.
Close attention needed to financial system.
No excessively bullish expectations and asset markets.
Japanese banks have sufficient capital base.
Was referring to overseas economic risks in particular.
About BOJ Outlook Report
The Bank of Japan decides the text of the Outlook Report in April and October Monetary Policy Meetings and releases it semiannually, after it has presented its outlook for developments in economic activity and prices, has carefully assessed upside and downside risks, and has outlined its views on the future course of monetary policy.
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