Japan revises down economic growth forecast for current fiscal year, Yen unfazed

Dhwani Mehta FXStreet

Ahead of Tuesday’s Bank of Japan (BOJ) monetary policy decision and Q2 economic forecasts, the Japanese Cabinet Office published its outlook, with the key highlights found below.

FY 2019 real GDP growth estimate lowered from 1.3% to 0.9%

FY 2020 real GDP growth estimate of 1.2%

FY 2019 consumer inflation estimate of 0.7%

FY 2020 consumer inflation estimate of 0.8%

The Japanese currency shrugged-off the downward revision, with USD/JPY pair playing the range game around 108.60 region ahead of key event risks.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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